ARRIS International plc (ARRS) was Initiated by Morgan Stanley to “Overweight” and the brokerage firm has set the Price Target at $34. Morgan Stanley advised their investors in a research report released on Sep 20, 2016.
Many Wall Street Analysts have commented on ARRIS International plc. Company shares were Reiterated by Needham on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 32 from a previous price target of $30 .Company shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $31 .
On the company’s financial health, ARRIS International plc reported $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.64. The company had revenue of $1730.04 million for the quarter, compared to analysts expectations of $1697.88 million. The company’s revenue was up 37.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.
ARRIS International plc closed down -0.05 points or -0.18% at $28.29 with 3,731,459 shares getting traded on Friday. Post opening the session at $28.28, the shares hit an intraday low of $27.83 and an intraday high of $28.37 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Sep 8, 2016, Ronald Coppock (PRES, INTL SALES AND MARKETING) sold 10,000 shares at $28.50 per share price. According to the SEC, on Aug 29, 2016, Patrick W Macken (SVP, GEN COUNSEL AND SECRETARY) sold 750 shares at $27.04 per share price. On Aug 29, 2016, Bruce William Mcclelland (PRES, NETWORK AND CLOUD GROUP) purchased 5,000 shares at $27.15 per share price, according to the Form-4 filing with the securities and exchange commission.
ARRIS International plc focuses on the entertainment and communications technology. The Company through its subsidiary ARRIS Group Inc. provides a range of entertainment and communications solutions. 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. The Company focuses on set tops digital video and Internet protocol television (IPTV) distribution systems broadband access infrastructure platforms and associated data and voice customer premises equipment (CPE) which it sells to consumers through retail channels. The Company’s product categories include content delivery and acquisition application and control delivery networks home and business connectivity and devices and video infrastructure. Its services include professional services and systems integration day two services and knowledge services.