BidaskClub cut shares of ARRIS International PLC (NASDAQ:ARRS) from a hold rating to a sell rating in a report released on Wednesday morning.

ARRS has been the subject of several other research reports. Zacks Investment Research raised ARRIS International PLC from a hold rating to a buy rating and set a $32.00 target price for the company in a research note on Monday, August 7th. Royal Bank Of Canada reissued a buy rating on shares of ARRIS International PLC in a research note on Tuesday, May 2nd. Jefferies Group LLC reissued a buy rating and set a $34.00 target price on shares of ARRIS International PLC in a research note on Thursday, June 8th. Northland Securities reissued a hold rating and set a $24.00 target price on shares of ARRIS International PLC in a research note on Thursday, August 3rd. Finally, TheStreet cut ARRIS International PLC from a b- rating to a c rating in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $32.90.

Shares of ARRIS International PLC (NASDAQ ARRS) opened at 26.98 on Wednesday. The stock’s 50 day moving average price is $27.72 and its 200-day moving average price is $27.40. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 40.76 and a beta of 1.31. ARRIS International PLC has a 1-year low of $24.75 and a 1-year high of $31.52.

ARRIS International PLC (NASDAQ:ARRS) last posted its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.66 billion. ARRIS International PLC had a return on equity of 13.97% and a net margin of 1.90%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. On average, equities research analysts forecast that ARRIS International PLC will post $2.54 earnings per share for the current year.

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In related news, insider Stephen J. Mccaffery sold 12,609 shares of ARRIS International PLC stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $30.00, for a total value of $378,270.00. Following the completion of the transaction, the insider now directly owns 9,127 shares in the company, valued at $273,810. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Potts sold 2,502 shares of ARRIS International PLC stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $27.67, for a total value of $69,230.34. Following the completion of the transaction, the executive vice president now owns 90,592 shares of the company’s stock, valued at $2,506,680.64. The disclosure for this sale can be found here. Insiders sold 23,255 shares of company stock valued at $676,591 over the last ninety days. Insiders own 0.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its position in ARRIS International PLC by 2.8% in the second quarter. Public Employees Retirement System of Ohio now owns 121,007 shares of the communications equipment provider’s stock worth $3,391,000 after buying an additional 3,289 shares during the period. Capstone Investment Advisors Netherlands B.V. bought a new position in ARRIS International PLC during the second quarter worth about $233,000. UBS Oconnor LLC bought a new position in ARRIS International PLC during the second quarter worth about $1,401,000. Balyasny Asset Management LLC raised its position in ARRIS International PLC by 376.9% in the second quarter. Balyasny Asset Management LLC now owns 38,635 shares of the communications equipment provider’s stock worth $1,083,000 after buying an additional 30,534 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in ARRIS International PLC by 20.3% in the second quarter. Parametric Portfolio Associates LLC now owns 132,490 shares of the communications equipment provider’s stock worth $3,712,000 after buying an additional 22,352 shares during the period. Hedge funds and other institutional investors own 87.78% of the company’s stock.

ARRIS International PLC Company Profile

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 PLC (NASDAQ:ARRS)

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