ARRIS Group Insider Bruce William Mcclelland Sells 10,000 Shares (ARRS)
ARRIS Group (NASDAQ:ARRS) Insider Bruce William Mcclelland unloaded 10,000 shares of ARRIS Group stock on the open market in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $35.00, for a total transaction of $350,000.00. Following the sale, the insider now directly owns 43,510 shares in the company, valued at approximately $1,522,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
ARRS has been the subject of a number of recent research reports. Analysts at Raymond James reiterated a “strong-buy” rating on shares of ARRIS Group in a research note on Friday. They now have a $39.00 price target on the stock, up previously from $37.00. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of ARRIS Group in a research note on Friday. They now have a $32.00 price target on the stock, up previously from $30.00. Finally, analysts at Needham & Company LLC raised their price target on shares of ARRIS Group from $34.00 to $36.00 in a research note on Friday. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. ARRIS Group has an average rating of “Buy” and an average price target of $36.44.
ARRIS Group (NASDAQ:ARRS) traded down 14.25% during mid-day trading on Friday, hitting $29.30. The stock had a trading volume of 12,846,048 shares. ARRIS Group has a 1-year low of $15.17 and a 1-year high of $35.83. The stock’s 50-day moving average is $32.7 and its 200-day moving average is $29.33. The company has a market cap of $4.212 billion and a P/E ratio of 711.87.
ARRIS Group (NASDAQ:ARRS) last announced its earnings results on Thursday, July 31st. The company reported $0.70 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.02. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company posted $0.45 earnings per share. ARRIS Group’s revenue was up 42.9% compared to the same quarter last year. On average, analysts predict that ARRIS Group will post $2.51 earnings per share for the current fiscal year.
ARRIS Group, Inc (NASDAQ:ARRS) is a global communications technology company.
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