ARRIS Group Upgraded by RBC Capital to Outperform (ARRS)
ARRIS Group (NASDAQ:ARRS) was upgraded by stock analysts at RBC Capital from a “sector perform” rating to an “outperform” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports.
ARRIS Group (NASDAQ:ARRS) traded up 3.99% on Tuesday, hitting $25.01. The stock had a trading volume of 799,353 shares. ARRIS Group has a one year low of $14.07 and a one year high of $24.69. The stock’s 50-day moving average is $21.68 and its 200-day moving average is $17.49. The company’s market cap is $3.459 billion.
ARRIS Group (NASDAQ:ARRS) last released its earnings data on Wednesday, October 30th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the 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 last year, the company posted $0.22 earnings per share. ARRIS Group’s revenue was up 198.7% compared to the same quarter last year. Analysts expect that ARRIS Group will post $1.56 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays downgraded shares of ARRIS Group from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. They now have a $24.00 price target on the stock. Separately, 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. Finally, 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. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.50.
ARRIS Group, Inc (NASDAQ:ARRS) is a global communications technology company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.