Arris Group Inc. (ARRS) Stock Rating Reaffirmed by RBC Capital Markets
Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “outperform” rating reaffirmed by RBC Capital Markets in a research note issued on Monday. They currently have a $35.00 price target on the stock, up from their previous price target of $33.00. RBC Capital Markets’ target price suggests a potential upside of 18.04% from the stock’s current price.
ARRS has been the topic of several other reports. Jefferies Group reaffirmed a “buy” rating and set a $34.00 price target on shares of Arris Group in a report on Tuesday, October 4th. Stifel Nicolaus reaffirmed a “positive” rating and set a $33.00 price target on shares of Arris Group in a report on Thursday, September 29th. Zacks Investment Research downgraded shares of Arris Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 27th. Morgan Stanley initiated coverage on shares of Arris Group in a report on Tuesday, September 20th. They set an “overweight” rating and a $34.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price target on shares of Arris Group in a report on Tuesday, September 13th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $33.20.
Shares of Arris Group (NASDAQ:ARRS) traded down 0.24% during trading on Monday, reaching $29.58. 608,887 shares of the company traded hands. Arris Group has a 52 week low of $20.05 and a 52 week high of $32.93. The company’s market capitalization is $5.64 billion. The company’s 50-day moving average price is $27.96 and its 200-day moving average price is $24.75.
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Arris Group (NASDAQ:ARRS) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.19. Arris Group had a negative net margin of 1.09% and a positive return on equity of 17.91%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm posted $0.53 EPS. Arris Group’s revenue for the quarter was up 37.3% on a year-over-year basis. Equities research analysts forecast that Arris Group will post $2.82 EPS for the current fiscal year.
In other Arris Group news, insider Ronald Coppock sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the sale, the insider now owns 19,750 shares in the company, valued at approximately $572,750. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. CKW Financial Group purchased a new stake in Arris Group during the second quarter worth approximately $123,000. MU Investments Co. Ltd. purchased a new stake in Arris Group during the second quarter worth approximately $132,000. Calvert Investment Management Inc. boosted its stake in Arris Group by 1.7% in the second quarter. Calvert Investment Management Inc. now owns 9,851 shares of the company’s stock worth $206,000 after buying an additional 167 shares during the last quarter. Marshall Wace LLP purchased a new stake in Arris Group during the second quarter worth approximately $209,000. Finally, Fox Run Management L.L.C. purchased a new stake in Arris Group during the second quarter worth approximately $218,000. Institutional investors own 85.06% of the company’s stock.
About Arris Group
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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