ARRIS Group PT Raised to $20.00 at Needham & Company (ARRS)
Equities researchers at Needham & Company raised their target price on shares of ARRIS Group (NASDAQ:ARRS) from $18.00 to $20.00 in a research report issued on Thursday, ARN reports. The firm currently has a “buy” rating on the stock. Needham & Company’s price objective would suggest a potential upside of 12.08% from the company’s current price.
A number of other firms have also recently commented on ARRS. Analysts at Stephens upgraded shares of ARRIS Group from an “equal weight” rating to an “overweight” rating in a research note to investors on Thursday. They now have a $22.00 price target on the stock, up previously from $18.00. Separately, analysts at Jefferies Group raised their price target on shares of ARRIS Group from $16.50 to $18.00 in a research note to investors on Thursday, October 24th. They now have a “hold” rating on the stock. Finally, 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. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $18.94.
Shares of ARRIS Group (NASDAQ:ARRS) traded up 8.22% during mid-day trading on Thursday, hitting $17.845. The stock had a trading volume of 10,193,656 shares. ARRIS Group has a one year low of $12.40 and a one year high of $17.98. The stock’s 50-day moving average is $16.79 and its 200-day moving average is $15.94. The company’s market cap is $2.465 billion.
ARRIS Group (NASDAQ:ARRS) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.05. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 198.7% on a year-over-year basis. 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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