ARRIS International (NASDAQ:ARRS)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Barclays in a research note issued on Thursday, MarketBeat Ratings reports. They currently have a $31.00 price objective on the communications equipment provider’s stock. Barclays’ price objective indicates a potential upside of 16.24% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. Loop Capital initiated coverage on shares of ARRIS International in a research report on Monday, January 29th. They issued a “buy” rating and a $35.00 target price on the stock. Raymond James Financial set a $38.00 target price on shares of ARRIS International and gave the company a “buy” rating in a research report on Monday, December 4th. ValuEngine raised shares of ARRIS International from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet cut shares of ARRIS International from a “b” rating to a “c+” rating in a research report on Friday, January 12th. Finally, Morgan Stanley cut shares of ARRIS International from an “overweight” rating to an “equal weight” rating and set a $31.00 target price on the stock. in a research report on Tuesday, December 19th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. ARRIS International currently has a consensus rating of “Buy” and a consensus target price of $33.10.
ARRIS International stock opened at $26.67 on Thursday. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The firm has a market cap of $5,047.75, a PE ratio of 54.43, a PEG ratio of 1.07 and a beta of 1.21. ARRIS International has a 1 year low of $22.60 and a 1 year high of $30.38.
In other ARRIS International news, CEO Bruce William Mcclelland purchased 2,000 shares of ARRIS International stock in a transaction dated Friday, February 16th. The shares were acquired at an average price of $25.91 per share, with a total value of $51,820.00. Following the completion of the transaction, the chief executive officer now owns 216,158 shares of the company’s stock, valued at $5,600,653.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Philip Charles Baldock sold 4,930 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $26.11, for a total transaction of $128,722.30. Following the sale, the senior vice president now directly owns 13,529 shares in the company, valued at approximately $353,242.19. The disclosure for this sale can be found here. Insiders have bought 9,500 shares of company stock worth $241,440 in the last three months. Corporate insiders own 0.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. FNY Partners Fund LP acquired a new stake in shares of ARRIS International during the fourth quarter worth about $100,000. Icon Advisers Inc. Co. acquired a new stake in shares of ARRIS International during the fourth quarter worth about $206,000. Capital Fund Management S.A. lifted its position in shares of ARRIS International by 25.5% during the fourth quarter. Capital Fund Management S.A. now owns 12,300 shares of the communications equipment provider’s stock worth $316,000 after purchasing an additional 2,500 shares in the last quarter. Oakbrook Investments LLC acquired a new stake in shares of ARRIS International during the fourth quarter worth about $361,000. Finally, Quantbot Technologies LP acquired a new stake in shares of ARRIS International during the third quarter worth about $514,000. 88.45% of the stock is currently owned by institutional investors and hedge funds.
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ARRIS International Company Profile
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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