ARRIS International (NASDAQ:ARRS) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday.

Several other research firms have also recently issued reports on ARRS. Raymond James cut ARRIS International from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $36.00 to $29.00 in a research report on Monday. Northland Securities reiterated a “hold” rating and set a $23.00 target price on shares of ARRIS International in a research report on Thursday, August 2nd. Goldman Sachs Group cut ARRIS International from a “neutral” rating to a “sell” rating and set a $24.00 target price on the stock. in a research report on Wednesday, June 20th. Wells Fargo & Co initiated coverage on ARRIS International in a research report on Thursday, July 12th. They set an “outperform” rating and a $32.00 target price on the stock. Finally, TheStreet upgraded ARRIS International from a “c” rating to a “b-” rating in a research report on Friday, September 21st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $29.63.

NASDAQ ARRS opened at $22.60 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.16 and a current ratio of 1.59. ARRIS International has a 12-month low of $21.83 and a 12-month high of $30.00. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23.

ARRIS International (NASDAQ:ARRS) last released its earnings results on Wednesday, August 1st. The communications equipment provider reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.02). ARRIS International had a return on equity of 16.82% and a net margin of 1.83%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts forecast that ARRIS International will post 2.59 EPS for the current year.

In other news, CEO Bruce William Mcclelland purchased 1,500 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average price of $24.08 per share, for a total transaction of $36,120.00. Following the acquisition, the chief executive officer now directly owns 242,256 shares in the company, valued at approximately $5,833,524.48. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders purchased 5,040 shares of company stock worth $120,666. Insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cerebellum GP LLC grew its holdings in ARRIS International by 163.9% during the 2nd quarter. Cerebellum GP LLC now owns 6,913 shares of the communications equipment provider’s stock valued at $169,000 after buying an additional 4,293 shares during the last quarter. Delphi Management Inc. MA acquired a new stake in ARRIS International during the 2nd quarter valued at $212,000. Levin Capital Strategies L.P. acquired a new stake in ARRIS International during the 1st quarter valued at $266,000. PNC Financial Services Group Inc. grew its holdings in ARRIS International by 37.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,045 shares of the communications equipment provider’s stock valued at $320,000 after buying an additional 3,287 shares during the last quarter. Finally, Hartford Investment Management Co. acquired a new stake in ARRIS International during the 2nd quarter valued at $305,000. Institutional investors and hedge funds own 87.26% of the company’s stock.

About ARRIS International

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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