ARRIS Group PT Raised to $18.00 at Jefferies Group (ARRS)
Jefferies Group hoisted their target price on shares of ARRIS Group (NASDAQ:ARRS) from $16.50 to $18.00 in a research note issued on Thursday, Stock Ratings Network.com reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s target price points to a potential upside of 8.11% from the stock’s previous close.
ARRIS Group (NASDAQ:ARRS) traded down 0.54% on Thursday, hitting $16.65. The stock had a trading volume of 1,101,178 shares. ARRIS Group has a one year low of $12.40 and a one year high of $17.98. The stock has a 50-day moving average of $15.97 and a 200-day moving average of $16.0. The company’s market cap is $2.300 billion.
ARRIS Group (NASDAQ:ARRS) last released its earnings data on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 186.4% on a year-over-year basis. On average, analysts predict that ARRIS Group will post $1.50 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of ARRIS Group from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, October 9th. They now have a $18.00 price target on the stock. Finally, analysts at Barclays 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $18.21.
ARRIS Group, Inc (NASDAQ:ARRS) is a global communications technology company.
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