ARRIS International (NASDAQ:ARRS) was downgraded by research analysts at Loop Capital from a “buy” rating to a “hold” rating in a research note issued on Thursday, The Fly reports.

Several other brokerages have also issued reports on ARRS. Royal Bank of Canada lowered shares of ARRIS International from an “outperform” rating to a “sector perform” rating in a research note on Thursday. Wells Fargo & Co lowered shares of ARRIS International from an “outperform” rating to a “market perform” rating in a research note on Thursday. ValuEngine raised shares of ARRIS International from a “sell” rating to a “hold” rating in a research note on Wednesday. TheStreet raised shares of ARRIS International from a “c” rating to a “b-” rating in a research note on Friday, September 21st. Finally, BidaskClub raised shares of ARRIS International from a “strong sell” rating to a “sell” rating in a research note on Friday, October 19th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $30.21.

Shares of NASDAQ ARRS opened at $30.72 on Thursday. The firm has a market cap of $5.01 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.65 and a beta of 1.16. ARRIS International has a 12-month low of $21.55 and a 12-month high of $30.90. 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 (NASDAQ:ARRS) last issued its earnings results on Thursday, November 8th. The communications equipment provider reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. ARRIS International had a net margin of 1.83% and a return on equity of 16.82%. ARRIS International’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share. Equities research analysts predict that ARRIS International will post 2.59 earnings per share for the current fiscal year.

In other ARRIS International news, CEO Bruce William Mcclelland acquired 1,500 shares of the company’s stock in a transaction on Monday, August 13th. The shares were purchased at an average cost of $24.08 per share, with a total value of $36,120.00. Following the completion of the purchase, the chief executive officer now owns 242,256 shares of the company’s stock, valued at $5,833,524.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. First Hawaiian Bank bought a new position in shares of ARRIS International in the third quarter valued at $140,000. Delphi Management Inc. MA bought a new position in shares of ARRIS International in the second quarter valued at $212,000. Hartford Investment Management Co. bought a new position in shares of ARRIS International in the second quarter valued at $305,000. Commonwealth Bank of Australia bought a new position in shares of ARRIS International in the third quarter valued at $499,000. Finally, Alambic Investment Management L.P. purchased a new stake in shares of ARRIS International in the second quarter valued at about $532,000. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

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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