ARRIS International plc (ARRS) Rating Increased to Buy at ValuEngine
ARRIS International plc (NASDAQ:ARRS) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.
A number of other research firms also recently commented on ARRS. Zacks Investment Research upgraded ARRIS International plc from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Monday, August 7th. BidaskClub cut ARRIS International plc from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Jefferies Group LLC restated 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 reaffirmed a “hold” rating and issued a $24.00 price target on shares of ARRIS International plc in a report on Thursday, August 3rd. Finally, BTIG Research started coverage on ARRIS International plc in a report on Thursday, June 15th. They issued a “buy” rating and a $38.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. ARRIS International plc currently has a consensus rating of “Buy” and a consensus price target of $32.75.
Shares of ARRIS International plc (NASDAQ:ARRS) traded up 1.90% during trading on Monday, hitting $29.03. The stock had a trading volume of 1,274,500 shares. The stock’s 50 day moving average price is $27.51 and its 200-day moving average price is $27.49. ARRIS International plc has a one year low of $24.75 and a one year high of $31.52. The stock has a market cap of $5.44 billion, a P/E ratio of 43.98 and a beta of 1.33.
ARRIS International plc (NASDAQ:ARRS) last posted its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.66 billion. ARRIS International plc had a return on equity of 3.93% and a net margin of 1.71%. ARRIS International plc’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. Analysts expect that ARRIS International plc will post $2.54 earnings per share for the current fiscal year.
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In other news, insider Stephen J. Mccaffery sold 12,609 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 9,127 shares of the company’s stock, valued at $273,810. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Potts sold 8,144 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $28.13, for a total value of $229,090.72. Following the completion of the sale, the executive vice president now directly owns 96,234 shares of the company’s stock, valued at $2,707,062.42. The disclosure for this sale can be found here. Insiders have sold a total of 23,255 shares of company stock worth $676,591 in the last 90 days. 0.90% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ARRS. Capstone Asset Management Co. increased its holdings in shares of ARRIS International plc by 0.3% in the 2nd quarter. Capstone Asset Management Co. now owns 15,751 shares of the communications equipment provider’s stock valued at $441,000 after acquiring an additional 40 shares during the period. NGAM Advisors L.P. boosted its stake in ARRIS International plc by 4.6% during the 2nd quarter. NGAM Advisors L.P. now owns 11,170 shares of the communications equipment provider’s stock worth $313,000 after purchasing an additional 489 shares during the period. Advantus Capital Management Inc boosted its stake in ARRIS International plc by 2.8% during the 1st quarter. Advantus Capital Management Inc now owns 24,356 shares of the communications equipment provider’s stock worth $644,000 after purchasing an additional 658 shares during the period. Cortina Asset Management LLC boosted its stake in ARRIS International plc by 9.5% during the 1st quarter. Cortina Asset Management LLC now owns 8,277 shares of the communications equipment provider’s stock worth $219,000 after purchasing an additional 715 shares during the period. Finally, Bellwether Investment Group LLC boosted its stake in ARRIS International plc by 10.6% during the 1st quarter. Bellwether Investment Group LLC now owns 8,665 shares of the communications equipment provider’s stock worth $229,000 after purchasing an additional 830 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.
About ARRIS International plc
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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