ARRIS International (ARRS) Upgraded at BidaskClub

ARRIS International (NASDAQ:ARRS) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Several other brokerages also recently weighed in on ARRS. Loop Capital downgraded ARRIS International from a “buy” rating to a “hold” rating in a report on Thursday. Needham & Company LLC downgraded ARRIS International from a “buy” rating to a “hold” rating in a report on Thursday. Goldman Sachs Group upgraded ARRIS International from a “sell” rating to a “neutral” rating in a report on Thursday. Wells Fargo & Co downgraded ARRIS International from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, Royal Bank of Canada downgraded ARRIS International from an “outperform” rating to a “sector perform” rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. ARRIS International presently has an average rating of “Hold” and a consensus target price of $29.29.

NASDAQ ARRS traded up $2.89 during trading hours on Thursday, hitting $30.68. 74,848,471 shares of the company were exchanged, compared to its average volume of 1,781,003. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.59 and a quick ratio of 1.16. ARRIS International has a 52-week low of $21.55 and a 52-week high of $30.90. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16.

ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings results on Thursday, November 8th. The communications equipment provider reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. ARRIS International had a return on equity of 16.82% and a net margin of 1.83%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business earned $0.80 EPS. ARRIS International’s revenue was down 4.5% on a year-over-year basis. Equities research analysts anticipate that ARRIS International will post 2.59 earnings per share for the current fiscal year.

In other ARRIS International news, CEO Bruce William Mcclelland acquired 1,500 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were acquired at an average price of $24.08 per share, for a total transaction of $36,120.00. Following the acquisition, 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 document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Hawaiian Bank purchased a new position in shares of ARRIS International in the 3rd quarter valued at about $140,000. Delphi Management Inc. MA purchased a new position in shares of ARRIS International in the 2nd quarter valued at about $212,000. Hartford Investment Management Co. purchased a new position in shares of ARRIS International in the 2nd quarter valued at about $305,000. Commonwealth Bank of Australia purchased a new position in shares of ARRIS International in the 3rd quarter valued at about $499,000. Finally, Alambic Investment Management L.P. purchased a new position in shares of ARRIS International in the 2nd quarter valued at about $532,000. Institutional investors and hedge funds 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.

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Analyst Recommendations for ARRIS International (NASDAQ:ARRS)

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