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.
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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