ARRIS International (ARRS) Downgraded by Jefferies Financial Group

ARRIS International (NASDAQ:ARRS) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, The Fly reports.

A number of other analysts also recently commented on the company. Zacks Investment Research restated a “hold” rating on shares of ARRIS International in a research note on Monday, November 12th. BidaskClub upgraded ARRIS International from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Goldman Sachs Group upgraded ARRIS International from a “sell” rating to a “neutral” rating and set a $30.50 target price on the stock in a research note on Thursday, November 8th. Needham & Company LLC downgraded ARRIS International from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. Finally, Loop Capital downgraded ARRIS International from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $30.21.

Shares of ARRS stock opened at $30.73 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $5.33 billion, a PE ratio of 12.65, a PEG ratio of 1.80 and a beta of 1.16. ARRIS International has a fifty-two week low of $21.55 and a fifty-two week high of $30.96.

ARRIS International (NASDAQ:ARRS) last announced its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. ARRIS International had a return on equity of 16.14% and a net margin of 1.24%. The company’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.80 earnings per share. Research analysts anticipate that ARRIS International will post 2.63 EPS for the current year.

A number of hedge funds have recently modified their holdings of ARRS. First Hawaiian Bank purchased a new position in shares of ARRIS International in the third quarter valued at approximately $140,000. Delphi Management Inc. MA purchased a new position in shares of ARRIS International in the second quarter valued at approximately $212,000. Hartford Investment Management Co. purchased a new position in shares of ARRIS International in the second quarter valued at approximately $305,000. Commonwealth Bank of Australia purchased a new position in shares of ARRIS International in the third quarter valued at approximately $499,000. Finally, Alambic Investment Management L.P. acquired a new stake in shares of ARRIS International in the second quarter valued at approximately $532,000. Institutional investors own 86.70% 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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