Arris Group Inc. (ARRS) Rating Reiterated by Stifel Nicolaus
Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “positive” rating reiterated by investment analysts at Stifel Nicolaus in a research report issued to clients and investors on Thursday. They presently have a $33.00 target price on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 16.48% from the stock’s previous close.
A number of other research analysts have also recently commented on ARRS. Royal Bank Of Canada restated a “buy” rating on shares of Arris Group in a research note on Wednesday, June 1st. Zacks Investment Research upgraded shares of Arris Group from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Friday, June 10th. Needham & Company LLC restated a “buy” rating and set a $32.00 price target on shares of Arris Group in a research note on Tuesday, September 13th. Jefferies Group raised their price objective on shares of Arris Group from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $33.00 price objective on shares of Arris Group in a report on Friday, September 23rd. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $33.00.
Arris Group (NASDAQ:ARRS) opened at 28.33 on Thursday. Arris Group has a one year low of $20.05 and a one year high of $32.93. The firm’s market capitalization is $5.40 billion. The company’s 50-day moving average price is $27.87 and its 200 day moving average price is $24.54.
Arris Group (NASDAQ:ARRS) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.19. The firm earned $1.73 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Arris Group had a negative net margin of 1.09% and a positive return on equity of 17.91%. The company’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share. On average, analysts forecast that Arris Group will post $2.82 earnings per share for the current year.
In other Arris Group news, insider Ronald Coppock sold 5,000 shares of Arris Group stock in a transaction on Monday, September 19th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the sale, the insider now owns 19,750 shares of the company’s stock, valued at approximately $572,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. raised its stake in Arris Group by 5,017.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,319,193 shares of the company’s stock worth $30,236,000 after buying an additional 1,293,413 shares in the last quarter. State Street Corp boosted its position in shares of Arris Group by 24.7% in the first quarter. State Street Corp now owns 4,764,920 shares of the company’s stock worth $109,212,000 after buying an additional 944,953 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its position in shares of Arris Group by 3.7% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,218,280 shares of the company’s stock worth $50,843,000 after buying an additional 79,132 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Arris Group by 18.6% in the first quarter. BlackRock Fund Advisors now owns 6,366,229 shares of the company’s stock worth $145,914,000 after buying an additional 996,393 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Arris Group by 301.3% in the first quarter. JPMorgan Chase & Co. now owns 536,977 shares of the company’s stock worth $12,308,000 after buying an additional 403,153 shares in the last quarter. 85.06% of the stock is owned by hedge funds and other institutional investors.
Arris Group Company Profile
ARRIS International plc focuses on entertainment and communications technology. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The CPE segment’s products include Set-Top, Gateway, digital subscriber line (DSL) and Cable Modem, and Embedded Multimedia Terminal Adapter (E-MTA) and Voice/Data Modem.
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