Arris Group Inc. (ARRS) Stock Rating Reaffirmed by Needham & Company LLC
Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued on Monday. They presently have a $32.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 7.93% from the stock’s previous close.
A number of other research firms have also recently issued reports on ARRS. RBC Capital Markets restated an “outperform” rating and set a $35.00 price objective (up previously from $33.00) on shares of Arris Group in a report on Monday. Zacks Investment Research cut Arris Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 27th. Stifel Nicolaus restated a “positive” rating and set a $33.00 price objective on shares of Arris Group in a report on Thursday, September 29th. Morgan Stanley assumed coverage on Arris Group in a report on Tuesday, September 20th. They set an “overweight” rating and a $34.00 price objective for the company. Finally, Jefferies Group restated a “buy” rating and set a $34.00 price objective on shares of Arris Group in a report on Tuesday, October 4th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $33.20.
Arris Group (NASDAQ:ARRS) traded down 0.34% during midday trading on Monday, hitting $29.55. The stock had a trading volume of 709,461 shares. The company’s 50 day moving average price is $27.96 and its 200-day moving average price is $24.75. The stock’s market cap is $5.63 billion. Arris Group has a 52-week low of $20.05 and a 52-week high of $32.93.
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Arris Group (NASDAQ:ARRS) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.19. Arris Group had a positive return on equity of 17.91% and a negative net margin of 1.09%. The company earned $1.73 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the business earned $0.53 EPS. Arris Group’s revenue was up 37.3% compared to the same quarter last year. Analysts forecast that Arris Group will post $2.82 EPS for the current fiscal year.
In other news, insider Ronald Coppock sold 5,000 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $29.00, for a total value of $145,000.00. Following the completion of the transaction, the insider now directly owns 19,750 shares of the company’s stock, valued at approximately $572,750. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARRS. CKW Financial Group bought a new position in Arris Group during the second quarter valued at approximately $123,000. MU Investments Co. Ltd. bought a new position in Arris Group during the second quarter valued at approximately $132,000. Calvert Investment Management Inc. raised its position in Arris Group by 1.7% in the second quarter. Calvert Investment Management Inc. now owns 9,851 shares of the company’s stock valued at $206,000 after buying an additional 167 shares during the last quarter. Marshall Wace LLP bought a new position in Arris Group during the second quarter valued at approximately $209,000. Finally, Fox Run Management L.L.C. bought a new position in Arris Group during the second quarter valued at approximately $218,000. 85.06% of the stock is owned by hedge funds and other institutional investors.
Arris Group Company Profile
ARRIS International plc focuses on entertainment and communications technology. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The CPE segment’s products include Set-Top, Gateway, digital subscriber line (DSL) and Cable Modem, and Embedded Multimedia Terminal Adapter (E-MTA) and Voice/Data Modem.
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