Loop Capital lowered shares of ARRIS International (NASDAQ:ARRS) from a buy rating to a hold rating in a research note released on Thursday morning, The Fly reports.
A number of other analysts have also issued reports on ARRS. Wells Fargo & Co started coverage on shares of ARRIS International in a research note on Thursday, July 12th. They set an outperform rating and a $32.00 price target on the stock. ValuEngine lowered shares of ARRIS International from a sell rating to a strong sell rating in a research note on Monday, July 30th. Northland Securities reiterated a hold rating and set a $23.00 price target on shares of ARRIS International in a research note on Thursday, August 2nd. TheStreet upgraded shares of ARRIS International from a c rating to a b- rating in a research note on Friday, September 21st. Finally, Raymond James lowered shares of ARRIS International from a strong-buy rating to an outperform rating and cut their price target for the stock from $36.00 to $29.00 in a research note on Monday, October 15th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. ARRIS International presently has a consensus rating of Hold and a consensus target price of $30.21.
NASDAQ:ARRS traded up $0.04 on Thursday, reaching $30.72. 17,455,824 shares of the company’s stock were exchanged, compared to its average volume of 1,852,934. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.59 and a quick ratio of 1.16. The firm has a market capitalization of $4.50 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. ARRIS International has a 52-week low of $21.55 and a 52-week high of $30.90.
In other news, CEO Bruce William Mcclelland bought 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average cost of $24.08 per share, for a total transaction of $36,120.00. Following the completion of the purchase, the chief executive officer now owns 242,256 shares of the company’s stock, valued at $5,833,524.48. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC lifted its position in ARRIS International by 21.2% in the 1st quarter. LPL Financial LLC now owns 40,299 shares of the communications equipment provider’s stock valued at $1,071,000 after acquiring an additional 7,046 shares in the last quarter. Principal Financial Group Inc. lifted its position in ARRIS International by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 759,298 shares of the communications equipment provider’s stock valued at $20,175,000 after acquiring an additional 8,672 shares in the last quarter. Allianz Asset Management GmbH lifted its position in ARRIS International by 39.0% in the 1st quarter. Allianz Asset Management GmbH now owns 23,960 shares of the communications equipment provider’s stock valued at $637,000 after acquiring an additional 6,724 shares in the last quarter. James Investment Research Inc. bought a new position in ARRIS International in the 2nd quarter valued at about $2,019,000. Finally, Hartford Investment Management Co. bought a new position in ARRIS International in the 2nd quarter valued at about $305,000. Hedge funds and other institutional investors own 87.56% of the company’s stock.
About ARRIS International
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.
Recommended Story: The Discount Rate – What You Need to Know
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.