ARRIS International (NASDAQ:ARRS) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They currently have a $31.00 price target on the communications equipment provider’s stock. Morgan Stanley’s target price points to a potential upside of 20.06% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. BidaskClub downgraded ARRIS International from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Raymond James Financial set a $36.00 price objective on ARRIS International and gave the company a “buy” rating in a report on Thursday, December 14th. ValuEngine raised ARRIS International from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Northland Securities set a $25.00 target price on ARRIS International and gave the stock a “hold” rating in a report on Monday, October 16th. Finally, TheStreet raised ARRIS International from a “c+” rating to a “b” rating in a report on Monday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $33.40.
ARRIS International (ARRS) traded up $0.07 during midday trading on Tuesday, reaching $25.82. The company’s stock had a trading volume of 3,041,400 shares, compared to its average volume of 1,502,264. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $4,828.89, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 1.11 and a beta of 1.39. ARRIS International has a 12 month low of $24.75 and a 12 month high of $31.52.
In other ARRIS International news, SVP Patrick W. Macken sold 1,250 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $29.26, for a total transaction of $36,575.00. Following the transaction, the senior vice president now owns 4,556 shares of the company’s stock, valued at approximately $133,308.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Lawrence Robinson sold 4,167 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $30.00, for a total value of $125,010.00. Following the transaction, the insider now directly owns 71,721 shares in the company, valued at approximately $2,151,630. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Capstone Investment Advisors Netherlands B.V. acquired a new position in ARRIS International during the 2nd quarter worth $233,000. Crossmark Global Holdings Inc. acquired a new position in ARRIS International during the 3rd quarter worth $473,000. Quantbot Technologies LP acquired a new position in ARRIS International during the 3rd quarter worth $514,000. Meeder Asset Management Inc. lifted its holdings in ARRIS International by 38.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 30,371 shares of the communications equipment provider’s stock worth $865,000 after buying an additional 8,496 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in ARRIS International by 18.3% during the 2nd quarter. Amalgamated Bank now owns 35,507 shares of the communications equipment provider’s stock worth $995,000 after buying an additional 5,488 shares in the last quarter. 86.51% of the stock is currently owned by hedge funds and other institutional investors.
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About ARRIS International
ARRIS International plc is a media entertainment and data communications solutions provider. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The Company enables service providers, including cable, telephone, and digital broadcast satellite operators, and media programmers to deliver media, voice and Internet Protocol (IP) data services to their subscribers.
