Arris Group’s (ARRS) “Buy” Rating Reiterated at Needham & Company LLC
Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued to clients and investors on Monday. They presently have a $32.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 7.93% from the stock’s previous close.
A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered Arris Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 27th. TheStreet upgraded Arris Group from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. RBC Capital Markets reiterated an “outperform” rating and set a $33.00 price target on shares of Arris Group in a report on Friday, September 23rd. Jefferies Group reiterated a “buy” rating and set a $34.00 price target on shares of Arris Group in a report on Tuesday, October 4th. Finally, Morgan Stanley initiated coverage on Arris Group in a report on Tuesday, September 20th. They set an “overweight” rating and a $34.00 price target for the company. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $33.20.
Arris Group (NASDAQ:ARRS) traded down 0.27% during trading on Monday, reaching $29.57. The company had a trading volume of 740,990 shares. The firm’s market capitalization is $5.64 billion. Arris Group has a 12-month low of $20.05 and a 12-month high of $32.93. The firm’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, topping 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 firm earned $1.73 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the company posted $0.53 EPS. The business’s quarterly revenue was up 37.3% compared to the same quarter last year. Equities research analysts forecast that Arris Group will post $2.82 EPS for the current year.
In related news, insider Ronald Coppock sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 19,750 shares in the company, valued at approximately $572,750. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC increased its position in shares of Arris Group by 25.5% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 10,345,103 shares of the company’s stock valued at $216,833,000 after buying an additional 2,104,800 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Arris Group by 3.1% in the second quarter. BlackRock Fund Advisors now owns 6,564,490 shares of the company’s stock valued at $137,592,000 after buying an additional 198,261 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Arris Group by 30.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,371,998 shares of the company’s stock valued at $123,126,000 after buying an additional 1,259,696 shares in the last quarter. State Street Corp increased its position in shares of Arris Group by 24.7% in the first quarter. State Street Corp now owns 4,764,920 shares of the company’s stock valued at $109,212,000 after buying an additional 944,953 shares in the last quarter. Finally, First Pacific Advisors LLC increased its position in shares of Arris Group by 0.4% in the second quarter. First Pacific Advisors LLC now owns 3,717,862 shares of the company’s stock valued at $77,926,000 after buying an additional 14,769 shares in the last quarter. Hedge funds and other 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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