Arris Group Inc. (ARRS) Given “Outperform” Rating at RBC Capital Markets
RBC Capital Markets reaffirmed their outperform rating on shares of Arris Group Inc. (NASDAQ:ARRS) in a research note issued to investors on Monday. They currently have a $35.00 price objective on the stock, up from their prior price objective of $33.00.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Arris Group from a strong-buy rating to a hold rating in a report on Tuesday, September 27th. Needham & Company LLC increased their price target on Arris Group from $30.00 to $32.00 and gave the stock a buy rating in a report on Thursday, July 28th. TheStreet upgraded Arris Group from a hold rating to a buy rating in a report on Thursday, August 11th. Jefferies Group restated a buy rating and set a $34.00 price target on shares of Arris Group in a report on Tuesday, October 4th. Finally, Morgan Stanley started coverage on Arris Group in a report on Tuesday, September 20th. They set an overweight rating and a $34.00 price target on the stock. One 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. The company currently has a consensus rating of Buy and a consensus price target of $33.20.
Shares of Arris Group (NASDAQ:ARRS) traded down 2.685% during trading on Monday, reaching $28.815. 183,064 shares of the company were exchanged. The company’s market capitalization is $5.49 billion. Arris Group has a one year low of $20.05 and a one year high of $32.93. The firm’s 50 day moving average price is $28.03 and its 200 day moving average price is $24.82.
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, topping analysts’ consensus estimates of $0.65 by $0.19. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Arris Group had a positive return on equity of 17.91% and a negative net margin of 1.09%. The company’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 EPS. Equities research analysts forecast that Arris Group will post $2.82 earnings per share for the current fiscal year.
In other Arris Group news, insider Ronald Coppock sold 5,000 shares of Arris Group stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the transaction, the insider now owns 19,750 shares of the company’s stock, valued at approximately $572,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. NWQ Investment Management Company LLC increased its stake in shares of Arris Group by 15.0% in the first quarter. NWQ Investment Management Company LLC now owns 628,719 shares of the company’s stock worth $14,410,000 after buying an additional 82,113 shares during the period. Royce & Associates LP increased its stake in shares of Arris Group by 3.4% in the first quarter. Royce & Associates LP now owns 462,000 shares of the company’s stock worth $10,589,000 after buying an additional 15,000 shares during the period. American Financial Group Inc. increased its stake in shares of Arris Group by 21.5% in the first quarter. American Financial Group Inc. now owns 11,396 shares of the company’s stock worth $261,000 after buying an additional 2,016 shares during the period. JPMorgan Chase & Co. increased its stake 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 during the period. Finally, BlackRock Japan Co. Ltd acquired a new stake in shares of Arris Group during the first quarter worth about $372,000. Hedge funds and other institutional investors 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.
Receive News & Stock Ratings for Arris Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arris Group Inc. and related stocks with our FREE daily email newsletter.