Arris Group Inc. (ARRS) Stock Rating Reaffirmed by Needham & Company LLC
Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday. They presently have a $35.00 price objective on the stock, up from their prior price objective of $32.00. Needham & Company LLC’s price target would suggest a potential upside of 19.17% from the company’s previous close.
A number of other research firms have also recently commented on ARRS. Zacks Investment Research cut Arris Group from a “hold” rating to a “sell” rating in a research note on Monday, October 31st. Stifel Nicolaus reissued a “positive” rating and issued a $33.00 target price on shares of Arris Group in a research note on Thursday, September 29th. Jefferies Group reissued a “buy” rating and issued a $34.00 target price on shares of Arris Group in a research note on Tuesday, October 4th. RBC Capital Markets reissued an “outperform” rating and issued a $35.00 target price (up previously from $33.00) on shares of Arris Group in a research note on Monday, October 10th. Finally, TheStreet raised Arris Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Arris Group presently has an average rating of “Buy” and a consensus price target of $33.50.
Arris Group (NASDAQ:ARRS) opened at 29.37 on Wednesday. The stock has a 50 day moving average price of $28.42 and a 200 day moving average price of $26.13. The company’s market capitalization is $5.57 billion. Arris Group has a 52-week low of $20.05 and a 52-week high of $32.93.
Arris Group (NASDAQ:ARRS) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.01. Arris Group had a positive return on equity of 17.33% and a negative net margin of 0.65%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the business posted $0.56 earnings per share. The firm’s revenue was up 42.0% compared to the same quarter last year. Equities research analysts forecast that Arris Group will post $2.78 earnings per share for the current year.
In other news, insider Ronald Coppock sold 5,000 shares of the stock in a transaction dated 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 directly owns 19,750 shares in the company, valued at $572,750. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in Arris Group during the third quarter worth $101,000. CKW Financial Group bought a new stake in shares of Arris Group during the second quarter valued at approximately $123,000. Acrospire Investment Management LLC raised its stake in shares of Arris Group by 666.7% in the third quarter. Acrospire Investment Management LLC now owns 4,600 shares of the company’s stock valued at $130,000 after buying an additional 4,000 shares during the period. MU Investments Co. Ltd. bought a new stake in shares of Arris Group during the second quarter valued at approximately $132,000. Finally, Advisor Group Inc. raised its stake in shares of Arris Group by 25.3% in the third quarter. Advisor Group Inc. now owns 5,269 shares of the company’s stock valued at $149,000 after buying an additional 1,063 shares during the period. Institutional investors own 85.90% of the company’s stock.
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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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