ARRIS International PLC (NASDAQ:ARRS) was upgraded by research analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued on Monday.
Other equities analysts have also recently issued reports about the company. BTIG Research started coverage on ARRIS International PLC in a research report on Thursday, June 15th. They set a “buy” rating and a $38.00 price target on the stock. BidaskClub cut ARRIS International PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Northland Securities reissued a “hold” rating and set a $24.00 price objective on shares of ARRIS International PLC in a research note on Thursday, August 3rd. ValuEngine lowered ARRIS International PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, Zacks Investment Research raised ARRIS International PLC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $33.25.
ARRIS International PLC (NASDAQ:ARRS) opened at 28.53 on Monday. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 43.10 and a beta of 1.33. ARRIS International PLC has a 52-week low of $24.75 and a 52-week high of $31.52. The firm’s 50-day moving average price is $27.80 and its 200 day moving average price is $27.60.
ARRIS International PLC (NASDAQ:ARRS) last announced its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. ARRIS International PLC had a return on equity of 13.97% and a net margin of 1.90%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the firm earned $0.84 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts forecast that ARRIS International PLC will post $2.54 EPS for the current year.
In other news, insider Stephen J. Mccaffery sold 12,609 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $30.00, for a total value of $378,270.00. Following the transaction, the insider now directly owns 9,127 shares of the company’s stock, valued at approximately $273,810. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Potts sold 8,144 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $28.13, for a total value of $229,090.72. Following the completion of the transaction, the executive vice president now directly owns 96,234 shares in the company, valued at $2,707,062.42. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in ARRIS International PLC by 16.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,244,590 shares of the communications equipment provider’s stock worth $146,962,000 after purchasing an additional 743,332 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of ARRIS International PLC by 76.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 885,606 shares of the communications equipment provider’s stock valued at $24,815,000 after acquiring an additional 383,039 shares during the last quarter. Strs Ohio raised its position in shares of ARRIS International PLC by 22.4% during the 2nd quarter. Strs Ohio now owns 1,910,000 shares of the communications equipment provider’s stock valued at $53,518,000 after acquiring an additional 350,000 shares during the last quarter. Omega Advisors Inc. raised its position in shares of ARRIS International PLC by 20.7% during the 1st quarter. Omega Advisors Inc. now owns 1,677,032 shares of the communications equipment provider’s stock valued at $44,357,000 after acquiring an additional 287,620 shares during the last quarter. Finally, Quantitative Investment Management LLC bought a new stake in shares of ARRIS International PLC during the 2nd quarter valued at $7,428,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.
ARRIS International PLC Company Profile
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.
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