Traders Purchase High Volume of Call Options on ARRIS Group (ARRS)
Shares of ARRIS Group (NASDAQ:ARRS) saw some unusual options trading activity on Friday. Stock investors purchased 10,261 call options on the company, Analyst RN reports. This is an increase of approximately 1,732% compared to the typical volume of 560 call options.
A number of research firms have recently commented on ARRS. Analysts at Zacks upgraded shares of ARRIS Group from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, September 13th. They now have a $19.00 price target on the stock. Separately, analysts at Barclays Capital initiated coverage on shares of ARRIS Group in a research note to investors on Wednesday, September 11th. They set an “overweight” rating and a $20.00 price target on the stock. Finally, analysts at Stephens initiated coverage on shares of ARRIS Group in a research note to investors on Tuesday, August 20th. They set an “equal weight” rating on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. ARRIS Group presently has a consensus rating of “Buy” and a consensus target price of $18.14.
Shares of ARRIS Group (NASDAQ:ARRS) opened at 17.16 on Monday. ARRIS Group has a 52-week low of $12.40 and a 52-week high of $17.98. The stock has a 50-day moving average of $16.40 and a 200-day moving average of $15.96. The company’s market cap is $2.371 billion.
ARRIS Group (NASDAQ:ARRS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.20. The company had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $975.57 million. During the same quarter last year, the company posted $0.25 earnings per share. ARRIS Group’s revenue was up 186.4% compared to the same quarter last year. Analysts expect that ARRIS Group will post $1.50 EPS for the current fiscal year.
ARRIS Group, Inc (NASDAQ:ARRS) is a global communications technology company.
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