Arris Group Inc. (ARRS) Trading Up 3%
Shares of Arris Group Inc. (NASDAQ:ARRS) were up 3% on Monday . The company traded as high as $28.00 and last traded at $27.96, with a volume of 823,110 shares traded. The stock had previously closed at $27.14.
A number of analysts have recently weighed in on ARRS shares. Needham & Company LLC raised their price target on shares of Arris Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Zacks Investment Research raised shares of Arris Group from a “strong sell” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday, May 17th. Royal Bank Of Canada reissued a “buy” rating on shares of Arris Group in a research report on Wednesday, June 1st. Jefferies Group reissued a “buy” rating and set a $31.00 price target (down previously from $40.00) on shares of Arris Group in a research report on Friday, June 10th. Finally, TheStreet raised shares of Arris Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Arris Group has an average rating of “Buy” and a consensus target price of $33.67.
The stock has a 50-day moving average of $26.24 and a 200 day moving average of $23.70. The stock’s market cap is $5.33 billion.
Arris Group (NASDAQ:ARRS) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.19. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. The firm’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, equities analysts predict that Arris Group Inc. will post $2.82 EPS for the current fiscal year.
A hedge fund recently raised its stake in Arris Group stock. Utah Retirement Systems increased its stake in Arris Group Inc. (NASDAQ:ARRS) by 35.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,700 shares of the company’s stock after buying an additional 8,500 shares during the period. Utah Retirement Systems’ holdings in Arris Group were worth $1,000,000 at the end of the most recent quarter.
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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