RBC Capital Markets Reiterates “Outperform” Rating for Arris Group Inc. (ARRS)
Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “outperform” rating reissued by RBC Capital Markets in a report issued on Monday. They presently have a $35.00 target price on the stock, up from their prior target price of $33.00. RBC Capital Markets’ target price would suggest a potential upside of 18.04% from the stock’s current price.
A number of other analysts have also issued reports on the company. Zacks Investment Research lowered Arris Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Needham & Company LLC raised their price objective on Arris Group from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. TheStreet upgraded Arris Group from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. Jefferies Group restated a “buy” rating and issued a $34.00 price objective on shares of Arris Group in a report on Tuesday, October 4th. Finally, Morgan Stanley began coverage on Arris Group in a report on Tuesday, September 20th. They issued an “overweight” rating and a $34.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Arris Group presently has a consensus rating of “Buy” and an average target price of $33.20.
Shares of Arris Group (NASDAQ:ARRS) traded down 0.24% during trading on Monday, reaching $29.58. The company had a trading volume of 615,659 shares. Arris Group has a 52-week low of $20.05 and a 52-week high of $32.93. The firm has a 50-day moving average price of $27.96 and a 200-day moving average price of $24.75. The company’s market capitalization is $5.64 billion.
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Arris Group (NASDAQ:ARRS) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the company earned $0.53 EPS. The firm’s quarterly revenue was up 37.3% on a year-over-year basis. On average, analysts predict that Arris Group will post $2.82 EPS for the current fiscal year.
In other Arris Group news, insider Bruce William Mcclelland acquired 5,000 shares of the company’s stock in a transaction on Friday, August 26th. The shares were bought at an average cost of $27.15 per share, for a total transaction of $135,750.00. Following the acquisition, the insider now directly owns 174,288 shares of the company’s stock, valued at $4,731,919.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ronald Coppock sold 10,000 shares of Arris Group stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $28.50, for a total value of $285,000.00. Following the sale, the insider now owns 24,750 shares in the company, valued at $705,375. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. CKW Financial Group purchased a new position in shares of Arris Group during the second quarter valued at approximately $123,000. MU Investments Co. Ltd. purchased a new position in shares of Arris Group during the second quarter valued at approximately $132,000. Telemus Capital LLC purchased a new position in shares of Arris Group during the third quarter valued at approximately $257,000. Calvert Investment Management Inc. raised its position in shares of 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. Finally, Marshall Wace LLP purchased a new position in shares of Arris Group during the second quarter valued at approximately $209,000. 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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