ARRIS Group Downgraded by Barclays to “Equal Weight” (ARRS)
ARRIS Group (NASDAQ:ARRS) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, ARN reports. They currently have a $24.00 target price on the stock. Barclays’ price target would indicate a potential downside of 0.21% from the company’s current price.
A number of other firms have also recently commented on ARRS. Analysts at Jefferies Group upgraded shares of ARRIS Group from a “hold” rating to a “buy” rating in a research note to investors on Friday, December 20th. They now have a $30.00 price target on the stock, up previously from $23.00. Separately, analysts at Brean Capital initiated coverage on shares of ARRIS Group in a research note to investors on Thursday, December 5th. They set a “buy” rating and a $26.00 price target on the stock. Finally, analysts at Needham & Company raised their price target on shares of ARRIS Group from $18.00 to $20.00 in a research note to investors on Thursday, October 31st. They now have a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $21.50.
Shares of ARRIS Group (NASDAQ:ARRS) traded down 2.32% on Monday, hitting $24.05. 3,685,989 shares of the company’s stock traded hands. ARRIS Group has a one year low of $14.07 and a one year high of $24.69. The stock has a 50-day moving average of $21.68 and a 200-day moving average of $17.49. The company’s market cap is $3.326 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. On average, analysts predict that ARRIS Group will post $1.56 earnings per share for the current fiscal year.
ARRIS Group, Inc (NASDAQ:ARRS) is a global communications technology company.
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