BidaskClub cut shares of ARRIS International (NASDAQ:ARRS) from a sell rating to a strong sell rating in a research report sent to investors on Saturday morning.
Other research analysts have also recently issued research reports about the company. TheStreet raised ARRIS International from a c+ rating to a b rating in a research note on Monday, October 9th. Raymond James Financial set a $36.00 target price on ARRIS International and gave the company a buy rating in a research note on Thursday, December 14th. ValuEngine raised ARRIS International from a hold rating to a buy rating in a research note on Friday, December 1st. Zacks Investment Research raised ARRIS International from a hold rating to a buy rating and set a $32.00 target price on the stock in a research note on Tuesday, November 7th. Finally, Jefferies Group set a $38.00 target price on ARRIS International and gave the company a buy rating in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $33.00.
ARRIS International (NASDAQ:ARRS) opened at $25.49 on Friday. The company has a market capitalization of $4,770.00, a P/E ratio of 29.30, a PEG ratio of 0.97 and a beta of 1.40. ARRIS International has a 52 week low of $24.75 and a 52 week high of $30.79. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.43 and a current ratio of 1.83.
In related news, SVP Patrick W. Macken sold 1,250 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $29.26, for a total value of $36,575.00. Following the transaction, the senior vice president now owns 4,556 shares of the company’s stock, valued at $133,308.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Lawrence Robinson sold 4,167 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $30.00, for a total value of $125,010.00. Following the completion of the transaction, the insider now directly owns 71,721 shares in the company, valued at approximately $2,151,630. The disclosure for this sale can be found here. In the last three months, insiders sold 10,347 shares of company stock worth $290,307. 0.90% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its stake in ARRIS International by 6.9% in the third quarter. Public Employees Retirement System of Ohio now owns 129,308 shares of the communications equipment provider’s stock worth $3,684,000 after purchasing an additional 8,301 shares in the last quarter. Neuberger Berman Group LLC boosted its position in ARRIS International by 4.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,030,172 shares of the communications equipment provider’s stock valued at $57,840,000 after acquiring an additional 92,445 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in ARRIS International during the 3rd quarter valued at $17,042,000. Thornburg Investment Management Inc. boosted its position in ARRIS International by 4.4% during the 3rd quarter. Thornburg Investment Management Inc. now owns 709,992 shares of the communications equipment provider’s stock valued at $20,228,000 after acquiring an additional 30,156 shares in the last quarter. Finally, Twin Capital Management Inc. bought a new stake in ARRIS International during the 3rd quarter valued at $1,492,000. 86.51% of the stock is currently owned by institutional investors.
About ARRIS International
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.
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.