ARRIS International (ARRS) Given a $36.00 Price Target by Raymond James Financial Analysts

ARRIS International (NASDAQ:ARRS) has been given a $36.00 target price by Raymond James Financial in a report issued on Thursday. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Raymond James Financial’s price objective would indicate a potential upside of 39.43% from the company’s current price.

Several other research firms have also recently weighed in on ARRS. BidaskClub cut shares of ARRIS International from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. ValuEngine cut shares of ARRIS International from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Northland Securities set a $25.00 price objective on shares of ARRIS International and gave the stock a “hold” rating in a research report on Monday, October 16th. Jefferies Group set a $38.00 price objective on shares of ARRIS International and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Finally, TheStreet upgraded shares of ARRIS International from a “c+” rating to a “b” rating in a research report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $33.67.

Shares of ARRIS International (ARRS) opened at $25.82 on Thursday. ARRIS International has a 12-month low of $24.75 and a 12-month high of $31.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.43 and a current ratio of 1.83. The firm has a market cap of $5,380.60, a price-to-earnings ratio of 12.35, a PEG ratio of 1.23 and a beta of 1.39.

ARRIS International (NASDAQ:ARRS) last posted its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.18. ARRIS International had a net margin of 2.51% and a return on equity of 14.02%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the company posted $0.77 earnings per share. ARRIS International’s revenue for the quarter was down .2% compared to the same quarter last year. research analysts anticipate that ARRIS International will post 2.33 EPS for the current year.

In related news, SVP Patrick W. Macken sold 1,250 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $29.26, for a total transaction of $36,575.00. Following the transaction, the senior vice president now directly owns 4,556 shares of the company’s stock, valued at $133,308.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Lawrence Robinson sold 4,167 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $30.00, for a total transaction of $125,010.00. Following the transaction, the insider now directly owns 71,721 shares in the company, valued at $2,151,630. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Eii Capital Management Inc. lifted its stake in shares of ARRIS International by 10.5% in the second quarter. Eii Capital Management Inc. now owns 118,675 shares of the communications equipment provider’s stock valued at $3,325,000 after buying an additional 11,250 shares in the last quarter. Quantitative Investment Management LLC bought a new position in shares of ARRIS International in the second quarter valued at $7,428,000. Tocqueville Asset Management L.P. bought a new position in shares of ARRIS International in the third quarter valued at $5,674,000. Balyasny Asset Management LLC lifted its stake in shares of ARRIS International by 376.9% in the second quarter. Balyasny Asset Management LLC now owns 38,635 shares of the communications equipment provider’s stock valued at $1,083,000 after buying an additional 30,534 shares in the last quarter. Finally, First Quadrant L P CA bought a new position in shares of ARRIS International in the third quarter valued at $3,827,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This piece was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The original version of this piece can be viewed at https://stocknewstimes.com/2017/12/16/arris-international-arrs-given-a-36-00-price-target-by-raymond-james-financial-analysts.html.

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.

Analyst Recommendations for ARRIS International (NASDAQ:ARRS)

Receive News & Ratings for ARRIS International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS International and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply