ARRIS International (NASDAQ:ARRS) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Tuesday, December 19th, Marketbeat Ratings reports. They currently have a $31.00 price target on the communications equipment provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 21.52% from the company’s previous close.
A number of other research firms have also issued reports on ARRS. Raymond James Financial set a $36.00 price target on shares of ARRIS International and gave the stock a “buy” rating in a research report on Thursday, December 14th. BidaskClub lowered shares of ARRIS International from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. ValuEngine raised shares of ARRIS International from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of ARRIS International from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, November 7th. Finally, Northland Securities set a $25.00 price objective on shares of ARRIS International and gave the company a “hold” rating in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.40.
ARRIS International (NASDAQ ARRS) traded up $0.25 during trading hours on Tuesday, hitting $25.51. 1,597,600 shares of the stock traded hands, compared to its average volume of 1,264,750. ARRIS International has a one year low of $24.75 and a one year high of $30.79. 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 company has a market cap of $4,760.00, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 0.99 and a beta of 1.40.
In other news, SVP Patrick W. Macken sold 1,250 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $29.26, for a total value of $36,575.00. Following the sale, the senior vice president now owns 4,556 shares in the company, valued at approximately $133,308.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Philip Charles Baldock sold 4,930 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $26.11, for a total transaction of $128,722.30. Following the completion of the sale, the senior vice president now owns 13,529 shares in the company, valued at approximately $353,242.19. The disclosure for this sale can be found here. Insiders have sold 10,347 shares of company stock worth $290,307 in the last quarter. Corporate insiders own 0.90% of the company’s stock.
Several large investors have recently modified their holdings of ARRS. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of ARRIS International in the second quarter valued at about $233,000. Crossmark Global Holdings Inc. bought a new position in shares of ARRIS International in the third quarter valued at about $473,000. Quantbot Technologies LP bought a new position in shares of ARRIS International in the third quarter valued at about $514,000. Meeder Asset Management Inc. raised its holdings in shares of ARRIS International by 38.8% in the third quarter. Meeder Asset Management Inc. now owns 30,371 shares of the communications equipment provider’s stock valued at $865,000 after buying an additional 8,496 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of ARRIS International by 18.3% in the second quarter. Amalgamated Bank now owns 35,507 shares of the communications equipment provider’s stock valued at $995,000 after buying an additional 5,488 shares during the last quarter. Institutional investors own 86.51% of the company’s stock.
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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.
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