ARRIS International (NASDAQ:ARRS) Stock Rating Lowered by Morgan Stanley

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.

ARRIS International (NASDAQ:ARRS) last announced its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.80 EPS for the quarter, topping the 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 last year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. equities analysts forecast that ARRIS International will post 2.32 earnings per share for the current year.

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.

Analyst Recommendations for ARRIS International (NASDAQ:ARRS)

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