Brokerages Set ARRIS International plc (ARRS) Target Price at $30.29

ARRIS International plc (NASDAQ:ARRS) has received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $29.29.

A number of equities analysts have recently issued reports on ARRS shares. TheStreet raised ARRIS International from a “c” rating to a “b-” rating in a research report on Friday, September 21st. Northland Securities reissued a “hold” rating and set a $23.00 price objective on shares of ARRIS International in a report on Thursday, August 2nd. Wells Fargo & Co began coverage on shares of ARRIS International in a report on Thursday, July 12th. They set an “outperform” rating and a $32.00 price objective on the stock. Raymond James lowered shares of ARRIS International from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $36.00 to $29.00 in a report on Monday. Finally, Goldman Sachs Group lowered shares of ARRIS International from a “neutral” rating to a “sell” rating and set a $24.00 price objective on the stock. in a report on Wednesday, June 20th.

In related news, CEO Bruce William Mcclelland acquired 1,500 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were purchased at an average cost of $24.08 per share, with a total value of $36,120.00. Following the completion of the acquisition, the chief executive officer now directly owns 242,256 shares of the company’s stock, valued at $5,833,524.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 5,040 shares of company stock worth $120,666 over the last three months. Corporate insiders own 1.00% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Earnest Partners LLC boosted its holdings in ARRIS International by 0.4% in the first quarter. Earnest Partners LLC now owns 591,282 shares of the communications equipment provider’s stock valued at $15,710,000 after purchasing an additional 2,531 shares during the last quarter. Hallmark Capital Management Inc. boosted its holdings in ARRIS International by 0.8% in the second quarter. Hallmark Capital Management Inc. now owns 410,082 shares of the communications equipment provider’s stock valued at $10,024,000 after purchasing an additional 3,130 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in ARRIS International by 37.5% in the first quarter. PNC Financial Services Group Inc. now owns 12,045 shares of the communications equipment provider’s stock valued at $320,000 after purchasing an additional 3,287 shares during the last quarter. Arizona State Retirement System boosted its holdings in ARRIS International by 3.2% in the second quarter. Arizona State Retirement System now owns 121,559 shares of the communications equipment provider’s stock valued at $2,972,000 after purchasing an additional 3,808 shares during the last quarter. Finally, HGK Asset Management Inc. boosted its holdings in ARRIS International by 17.0% in the second quarter. HGK Asset Management Inc. now owns 26,413 shares of the communications equipment provider’s stock valued at $646,000 after purchasing an additional 3,834 shares during the last quarter. 87.26% of the stock is currently owned by institutional investors.

Shares of ARRS stock traded down $0.27 during trading hours on Thursday, reaching $23.03. 1,171,000 shares of the company’s stock were exchanged, compared to its average volume of 1,382,559. The company has a market cap of $4.69 billion, a PE ratio of 9.56, a PEG ratio of 1.54 and a beta of 1.23. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.67. ARRIS International has a fifty-two week low of $21.83 and a fifty-two week high of $30.00.

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

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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