ARRIS Group Sets New 12-Month High at $34.22 (ARRS)
Shares of ARRIS Group (NASDAQ:ARRS) reached a new 52-week high during mid-day trading on Friday , AR Network reports. The company traded as high as $34.22 and last traded at $33.77, with a volume of 2,128,932 shares trading hands. The stock had previously closed at $33.42.
ARRS has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of ARRIS Group from $35.00 to $40.00 in a research note on Monday, June 9th. They now have an “outperform” rating on the stock. Separately, analysts at Stephens upgraded shares of ARRIS Group from an “equal weight” rating to an “overweight” rating in a research note on Monday, May 12th. Finally, analysts at TheStreet upgraded shares of ARRIS Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $33.67.
The stock has a 50-day moving average of $30. and a 200-day moving average of $27.29. The company has a market cap of $4.816 billion and a price-to-earnings ratio of 696.25.
ARRIS Group (NASDAQ:ARRS) last posted its quarterly 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. On average, analysts predict that ARRIS Group will post $2.52 earnings per share for the current fiscal year.
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.