ARRIS Group Upgraded to Strong-Buy by Raymond James (ARRS)
ARRIS Group (NASDAQ:ARRS) was upgraded by research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report released on Wednesday, TheFlyOnTheWall.com reports.
ARRIS Group (NASDAQ:ARRS) opened at 25.72 on Wednesday. ARRIS Group has a 1-year low of $14.07 and a 1-year high of $31.42. The stock’s 50-day moving average is $27.04 and its 200-day moving average is $24.34. The company’s market cap is $3.662 billion.
ARRIS Group (NASDAQ:ARRS) last announced its earnings results on Tuesday, May 6th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.45 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company posted $0.25 earnings per share. ARRIS Group’s revenue was up 246.4% compared to the same quarter last year. Analysts expect that ARRIS Group will post $2.09 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Brean Capital reiterated a “buy” rating on shares of ARRIS Group in a research note on Wednesday. They now have a $33.00 price target on the stock, up previously from $32.00. Separately, analysts at Zacks downgraded shares of ARRIS Group from an “outperform” rating to a “neutral” rating in a research note on Friday, April 11th. They now have a $27.00 price target on the stock. Finally, analysts at TheStreet downgraded shares of ARRIS Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. ARRIS Group currently has an average rating of “Hold” and an average price target of $28.90.
ARRIS Group, Inc (NASDAQ:ARRS) is a global communications technology company.
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