ARRIS International (NASDAQ:ARRS) was downgraded by stock analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, The Fly reports.
Several other brokerages also recently issued reports on ARRS. Royal Bank of Canada downgraded shares of ARRIS International from an “outperform” rating to a “sector perform” rating in a research report on Thursday. Raymond James cut ARRIS International from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $36.00 to $29.00 in a research note on Monday, October 15th. ValuEngine upgraded ARRIS International from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 29th. Northland Securities reiterated a “hold” rating and set a $23.00 target price on shares of ARRIS International in a research note on Thursday, August 2nd. Finally, BidaskClub upgraded ARRIS International from a “strong sell” rating to a “sell” rating in a research note on Friday, October 19th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. ARRIS International presently has a consensus rating of “Hold” and a consensus target price of $30.21.
NASDAQ:ARRS traded up $0.04 during trading hours on Thursday, hitting $30.72. The stock had a trading volume of 17,455,823 shares, compared to its average volume of 1,962,902. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 0.67. ARRIS International has a 1-year low of $21.55 and a 1-year high of $30.90. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.16.
ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. ARRIS International had a net margin of 1.83% and a return on equity of 16.82%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company earned $0.80 earnings per share. ARRIS International’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, equities analysts anticipate that ARRIS International will post 2.59 earnings per share for the current year.
In other ARRIS International news, CEO Bruce William Mcclelland bought 1,500 shares of ARRIS International stock in a transaction dated Monday, August 13th. The stock was bought at an average cost of $24.08 per share, for a total transaction of $36,120.00. Following the purchase, the chief executive officer now owns 242,256 shares in the company, valued at approximately $5,833,524.48. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Commonwealth Bank of Australia bought a new position in ARRIS International during the third quarter worth $499,000. Thornburg Investment Management Inc. lifted its stake in ARRIS International by 0.9% during the third quarter. Thornburg Investment Management Inc. now owns 1,184,209 shares of the communications equipment provider’s stock worth $30,778,000 after purchasing an additional 10,811 shares during the last quarter. US Bancorp DE lifted its stake in ARRIS International by 8.3% during the third quarter. US Bancorp DE now owns 37,066 shares of the communications equipment provider’s stock worth $965,000 after purchasing an additional 2,849 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in ARRIS International by 12.7% during the third quarter. Russell Investments Group Ltd. now owns 868,516 shares of the communications equipment provider’s stock worth $22,569,000 after purchasing an additional 97,977 shares during the last quarter. Finally, Strs Ohio lifted its stake in ARRIS International by 6.0% during the third quarter. Strs Ohio now owns 5,015,000 shares of the communications equipment provider’s stock worth $130,339,000 after purchasing an additional 286,005 shares during the last quarter. Institutional investors own 87.56% of the company’s stock.
ARRIS International Company Profile
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.
Read More: Conference Calls and Individual Investors
Receive News & Ratings for ARRIS International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS International and related companies with MarketBeat.com's FREE daily email newsletter.