Arris Group Inc. (ARRS) Stock Rating Reaffirmed by Needham & Company LLC
Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Monday. They currently have a $32.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 7.93% from the stock’s previous close.
ARRS has been the subject of several other research reports. RBC Capital Markets reissued an “outperform” rating and issued a $33.00 price target on shares of Arris Group in a research report on Friday, September 23rd. Zacks Investment Research downgraded shares of Arris Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 27th. Jefferies Group lifted 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. Stifel Nicolaus reaffirmed a “positive” rating and set a $33.00 price objective on shares of Arris Group in a report on Thursday, September 29th. Finally, TheStreet raised shares of Arris Group from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $33.20.
Arris Group (NASDAQ:ARRS) traded down 0.34% during mid-day trading on Monday, reaching $29.55. 709,461 shares of the company’s stock traded hands. Arris Group has a 1-year low of $20.05 and a 1-year high of $32.93. The firm has a 50 day moving average of $27.96 and a 200 day moving average of $24.75. The firm’s market cap is $5.63 billion.
Arris Group (NASDAQ:ARRS) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.19. Arris Group had a negative net margin of 1.09% and a positive return on equity of 17.91%. The business earned $1.73 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the firm posted $0.53 EPS. Arris Group’s revenue was up 37.3% compared to the same quarter last year. Analysts forecast that Arris Group will post $2.82 EPS for the current year.
In other Arris Group news, insider Ronald Coppock sold 10,000 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $28.50, for a total value of $285,000.00. Following the completion of the transaction, the insider now owns 24,750 shares in the company, valued at $705,375. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bruce William Mcclelland acquired 5,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was purchased at an average price of $27.15 per share, with a total value of $135,750.00. Following the acquisition, the insider now owns 174,288 shares of the company’s stock, valued at approximately $4,731,919.20. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. CKW Financial Group bought a new stake in Arris Group during the second quarter worth approximately $123,000. MU Investments Co. Ltd. bought a new stake in Arris Group during the second quarter worth approximately $132,000. Calvert Investment Management Inc. boosted its stake in Arris Group by 1.7% in the second quarter. Calvert Investment Management Inc. now owns 9,851 shares of the company’s stock worth $206,000 after buying an additional 167 shares in the last quarter. Marshall Wace LLP bought a new stake in Arris Group during the second quarter worth approximately $209,000. Finally, Fox Run Management L.L.C. bought a new stake in Arris Group during the second quarter worth approximately $218,000. Institutional investors and hedge funds own 85.06% of the company’s stock.
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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