ARRIS Group Receives Equal Weight Rating from Barclays (ARRS)
ARRIS Group (NASDAQ:ARRS)‘s stock had its “equal weight” rating reiterated by stock analysts at Barclays in a report issued on Friday. They currently have a $32.00 price target on the stock, up from their previous price target of $30.00. Barclays’ price target indicates a potential downside of 6.32% from the stock’s previous close.
A number of other analysts have also recently weighed in on ARRS. 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. Separately, analysts at Brean Capital raised their price target on shares of ARRIS Group from $33.00 to $40.00 in a research note on Monday. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of ARRIS Group in a research note on Friday, July 4th. They now have a $39.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. ARRIS Group currently has an average rating of “Buy” and an average price target of $36.22.
ARRIS Group (NASDAQ:ARRS) traded down 14.84% on Friday, hitting $29.10. 9,805,562 shares of the company’s stock traded hands. 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 $4.183 billion and a price-to-earnings ratio of 711.87.
ARRIS Group (NASDAQ:ARRS) last posted its quarterly 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. Analysts expect that ARRIS Group will post $2.51 EPS for the current fiscal year.
ARRIS Group, Inc (NASDAQ:ARRS) is a global communications technology company.
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