ARRIS International (ARRS) Lifted to B- at TheStreet

TheStreet upgraded shares of ARRIS International (NASDAQ:ARRS) from a c rating to a b- rating in a report released on Friday morning.

ARRS has been the subject of a number of other research reports. ValuEngine raised shares of ARRIS International from a strong sell rating to a sell rating in a research note on Tuesday, July 10th. Northland Securities reissued a hold rating and set a $23.00 target price on shares of ARRIS International in a research note on Thursday, August 2nd. Goldman Sachs Group lowered shares of ARRIS International from a neutral rating to a sell rating and set a $24.00 target price for the company. in a research note on Wednesday, June 20th. Wells Fargo & Co began coverage on shares of ARRIS International in a research note on Thursday, July 12th. They set an outperform rating and a $32.00 target price for the company. Finally, BidaskClub lowered shares of ARRIS International from a sell rating to a strong sell rating in a research note on Thursday, May 24th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $31.33.

ARRIS International stock opened at $26.31 on Friday. ARRIS International has a 52 week low of $22.33 and a 52 week high of $30.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.59 and a quick ratio of 1.16. The company has a market capitalization of $4.78 billion, a P/E ratio of 10.83, a PEG ratio of 1.57 and a beta of 1.25.

ARRIS International (NASDAQ:ARRS) last posted its quarterly earnings data on Wednesday, August 1st. The communications equipment provider reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). ARRIS International had a return on equity of 16.82% and a net margin of 1.83%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the business posted $0.63 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. equities analysts forecast that ARRIS International will post 2.59 EPS for the current year.

In other news, EVP David Potts sold 2,848 shares of the firm’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $25.90, for a total transaction of $73,763.20. Following the transaction, the executive vice president now owns 99,167 shares in the company, valued at approximately $2,568,425.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Philip Charles Baldock sold 1,394 shares of the firm’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $25.47, for a total transaction of $35,505.18. Following the transaction, the senior vice president now owns 12,691 shares in the company, valued at approximately $323,239.77. The disclosure for this sale can be found here. Insiders have acquired a total of 5,040 shares of company stock valued at $120,666 in the last three months. Company insiders own 1.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Cerebellum GP LLC raised its holdings in ARRIS International by 163.9% in the 2nd quarter. Cerebellum GP LLC now owns 6,913 shares of the communications equipment provider’s stock worth $169,000 after acquiring an additional 4,293 shares during the period. Delphi Management Inc. MA bought a new position in ARRIS International in the 2nd quarter worth $212,000. Levin Capital Strategies L.P. bought a new position in ARRIS International in the 1st quarter worth $266,000. PNC Financial Services Group Inc. raised its holdings in ARRIS International by 37.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,045 shares of the communications equipment provider’s stock worth $320,000 after acquiring an additional 3,287 shares during the period. Finally, Hartford Investment Management Co. bought a new position in ARRIS International in the 2nd quarter worth $305,000. Institutional investors and hedge funds own 87.26% of the company’s stock.

About ARRIS International

ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. It operates through three segments: Customer Premises Equipment, Network & Cloud, and Enterprise Networks. The Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.

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Analyst Recommendations for ARRIS International (NASDAQ:ARRS)

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