ARRIS International (ARRS) Lowered to Buy at BidaskClub

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BidaskClub cut shares of ARRIS International (NASDAQ:ARRS) from a strong-buy rating to a buy rating in a report published on Wednesday morning.

A number of other research firms have also weighed in on ARRS. Jefferies Financial Group lowered shares of ARRIS International from a buy rating to a hold rating and set a $30.73 target price on the stock. in a research note on Sunday, December 2nd. Zacks Investment Research restated a hold rating on shares of ARRIS International in a research note on Monday, November 12th. Loop Capital lowered shares of ARRIS International from a buy rating to a hold rating in a research note on Thursday, November 8th. Needham & Company LLC lowered shares of ARRIS International from a buy rating to a hold rating in a research note on Thursday, November 8th. Finally, Goldman Sachs Group upgraded shares of 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. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $30.65.

Shares of ARRS stock traded up $0.07 during trading hours on Wednesday, reaching $30.70. 1,705,281 shares of the stock were exchanged, compared to its average volume of 2,715,225. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.15 and a current ratio of 1.54. ARRIS International has a 12-month low of $21.55 and a 12-month high of $31.06. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.85 and a beta of 0.96.

ARRIS International (NASDAQ:ARRS) last released its earnings results on Thursday, November 8th. The communications equipment provider reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. ARRIS International had a net margin of 1.24% and a return on equity of 16.14%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. Equities analysts forecast that ARRIS International will post 2.67 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. First Hawaiian Bank purchased a new position in ARRIS International in the third quarter valued at approximately $140,000. Delphi Management Inc. MA purchased a new position in ARRIS International in the second quarter valued at approximately $212,000. Cerebellum GP LLC purchased a new position in ARRIS International in the fourth quarter valued at approximately $254,000. Commonwealth Bank of Australia purchased a new position in ARRIS International in the third quarter valued at approximately $499,000. Finally, Oakbrook Investments LLC increased its stake in ARRIS International by 31.7% in the third quarter. Oakbrook Investments LLC now owns 21,600 shares of the communications equipment provider’s stock valued at $561,000 after purchasing an additional 5,200 shares during the last quarter. Institutional investors own 89.57% 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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