ValuEngine Lowers ARRIS International PLC (ARRS) to Hold

ValuEngine downgraded shares of ARRIS International PLC (NASDAQ:ARRS) from a buy rating to a hold rating in a report released on Wednesday morning.

Several other research analysts have also recently commented on the stock. Jefferies Group LLC reaffirmed a buy rating and set a $34.00 target price on shares of ARRIS International PLC in a report on Monday, May 15th. Northland Securities reaffirmed a hold rating and set a $24.00 target price on shares of ARRIS International PLC in a report on Thursday, August 3rd. Zacks Investment Research raised shares of ARRIS International PLC from a hold rating to a buy rating and set a $32.00 target price on the stock in a report on Monday, August 7th. BidaskClub cut shares of ARRIS International PLC from a hold rating to a sell rating in a report on Wednesday, August 23rd. Finally, BTIG Research assumed coverage on shares of ARRIS International PLC in a report on Thursday, June 15th. They set a buy rating and a $38.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $32.90.

Shares of ARRIS International PLC (ARRS) opened at 26.42 on Wednesday. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 39.91 and a beta of 1.30. The stock has a 50 day moving average price of $27.52 and a 200 day moving average price of $27.25. ARRIS International PLC has a 1-year low of $24.75 and a 1-year high of $31.52.

ARRIS International PLC (NASDAQ:ARRS) last issued its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.66 billion. ARRIS International PLC had a net margin of 1.90% and a return on equity of 13.97%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. Analysts forecast that ARRIS International PLC will post $2.54 earnings per share for the current year.

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In related news, insider Stephen J. Mccaffery sold 12,609 shares of ARRIS International PLC stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $30.00, for a total value of $378,270.00. Following the transaction, the insider now directly owns 9,127 shares of the company’s stock, valued at $273,810. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Potts sold 8,144 shares of ARRIS International PLC stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $28.13, for a total transaction of $229,090.72. Following the completion of the transaction, the executive vice president now directly owns 96,234 shares in the company, valued at $2,707,062.42. The disclosure for this sale can be found here. Insiders sold 23,255 shares of company stock worth $676,591 over the last three months. 0.90% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Tyers Asset Management LLC increased its stake in ARRIS International PLC by 7.4% in the first quarter. Tyers Asset Management LLC now owns 5,792 shares of the communications equipment provider’s stock valued at $153,000 after acquiring an additional 400 shares during the last quarter. Delta Capital Management LLC bought a new position in ARRIS International PLC in the second quarter valued at approximately $210,000. Elkfork Partners LLC increased its stake in ARRIS International PLC by 7.4% in the first quarter. Elkfork Partners LLC now owns 7,964 shares of the communications equipment provider’s stock valued at $211,000 after acquiring an additional 550 shares during the last quarter. Cortina Asset Management LLC increased its stake in ARRIS International PLC by 9.5% in the first quarter. Cortina Asset Management LLC now owns 8,277 shares of the communications equipment provider’s stock valued at $219,000 after acquiring an additional 715 shares during the last quarter. Finally, Bellwether Investment Group LLC increased its stake in ARRIS International PLC by 10.6% in the first quarter. Bellwether Investment Group LLC now owns 8,665 shares of the communications equipment provider’s stock valued at $229,000 after acquiring an additional 830 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

ARRIS International PLC 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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Analyst Recommendations for ARRIS International PLC (NASDAQ:ARRS)

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