ARRIS International PLC (ARRS) Raised to “B” at TheStreet

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

Several other analysts have also issued reports on the stock. ValuEngine upgraded shares of ARRIS International PLC from a hold rating to a buy rating in a report on Monday, October 2nd. Northland Securities restated a hold rating and issued a $24.00 price objective on shares of ARRIS International PLC in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of 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 lowered shares of ARRIS International PLC from a hold rating to a sell rating in a report on Wednesday, August 23rd. Finally, BTIG Research assumed coverage on shares of ARRIS International PLC in a report on Thursday, June 15th. They issued a buy rating and a $38.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $33.25.

ARRIS International PLC (NASDAQ:ARRS) opened at 28.39 on Monday. ARRIS International PLC has a 52-week low of $24.75 and a 52-week high of $31.52. The company has a market cap of $5.32 billion, a PE ratio of 42.89 and a beta of 1.33. The firm’s 50-day moving average is $27.84 and its 200-day moving average is $27.61.

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

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In other ARRIS International PLC news, insider Stephen J. Mccaffery sold 12,609 shares of ARRIS International PLC stock in a transaction dated 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 of the company’s stock, valued at approximately $273,810. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David Potts sold 8,144 shares of ARRIS International PLC stock in a transaction dated 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 transaction, 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 own 0.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARRS. Ameriprise Financial Inc. grew its position in ARRIS International PLC by 16.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,244,590 shares of the communications equipment provider’s stock valued at $146,962,000 after acquiring an additional 743,332 shares in the last quarter. Russell Investments Group Ltd. grew its position in ARRIS International PLC by 76.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 885,606 shares of the communications equipment provider’s stock valued at $24,815,000 after acquiring an additional 383,039 shares in the last quarter. Strs Ohio grew its position in ARRIS International PLC by 22.4% in the 2nd quarter. Strs Ohio now owns 1,910,000 shares of the communications equipment provider’s stock valued at $53,518,000 after acquiring an additional 350,000 shares in the last quarter. Omega Advisors Inc. grew its position in ARRIS International PLC by 20.7% in the 1st quarter. Omega Advisors Inc. now owns 1,677,032 shares of the communications equipment provider’s stock valued at $44,357,000 after acquiring an additional 287,620 shares in the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in ARRIS International PLC in the 2nd quarter valued at about $7,428,000. 86.76% of the stock is owned by institutional investors.

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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