ARRIS Group Stock Rating Reaffirmed by Zacks (ARRS)
ARRIS Group (NASDAQ:ARRS)‘s stock had its “outperform” rating restated by Zacks in a research note issued to investors on Friday. They currently have a $39.00 target price on the stock. Zacks‘s price objective points to a potential upside of 20.07% from the stock’s previous close.
Zacks’ analyst wrote, “Arris posted strong first-quarter 2014 financial results with both the top and the bottom line surpassing the Zacks Consensus Estimate. Strong demand for home gateways, major contract wins, and the acquisition of the cable set-top box business of Motorola Mobility has transformed the company into an integrated equipment supplier in the high-speed video and Internet delivery market. In addition, acquisition of SeaWell Networks will further help Arris enhance its product portfolio with offerings like IP video, multiscreen video and ad insertion solutions. Moreover, Arris has also raised the guidance for the second quarter of 2014. We, thus, upgrade our recommendation on Arris to Outperform from Neutral. “
ARRIS Group (NASDAQ:ARRS) traded down 0.25% on Friday, hitting $32.48. The stock had a trading volume of 1,393,359 shares. ARRIS Group has a 1-year low of $14.46 and a 1-year high of $34.22. The stock’s 50-day moving average is $32.17 and its 200-day moving average is $28.11. The company has a market cap of $4.669 billion and a price-to-earnings ratio of 678.33.
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 $2.52 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ARRS. 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 investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $35.00.
ARRIS Group, Inc (NASDAQ:ARRS) is a global communications technology company.
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