National Alliance Securities Initiates Coverage on ARRIS Group (ARRS)
Equities research analysts at National Alliance Securities started coverage on shares of ARRIS Group (NASDAQ:ARRS) in a research note issued to investors on Tuesday, AnalystRatings.Net reports. The firm set a “buy” rating and a $30.00 price target on the stock. National Alliance Securities’ price objective would indicate a potential upside of 21.41% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of ARRIS Group from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a $30.00 price target on the stock. Separately, analysts at RBC Capital upgraded shares of ARRIS Group from a “sector perform” rating to an “outperform” rating in a research note to investors on Tuesday, January 7th. They now have a $28.00 price target on the stock, up previously from $18.00. Finally, 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, January 6th. They now have a $24.00 price target on the stock. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.95.
Shares of ARRIS Group (NASDAQ:ARRS) opened at 24.9699 on Tuesday. ARRIS Group has a 52 week low of $14.07 and a 52 week high of $25.46. The stock’s 50-day moving average is $22.56 and its 200-day moving average is $17.87. The company’s market cap is $3.453 billion.
ARRIS Group (NASDAQ:ARRS) last announced its earnings results on Wednesday, October 30th. The company reported $0.39 earnings per share for the quarter, beating the analysts’ 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. 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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