Arris Group Inc. (ARRS) Stock Rating Reaffirmed by RBC Capital Markets
Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “outperform” rating reissued by analysts at RBC Capital Markets in a report released on Friday. They currently have a $33.00 target price on the stock. RBC Capital Markets’ target price would indicate a potential upside of 12.47% from the stock’s previous close.
ARRS has been the topic of a number of other research reports. Zacks Investment Research raised shares of Arris Group from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Friday, June 3rd. Jefferies Group lifted their target price on shares of Arris Group from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Needham & Company LLC boosted their price objective on shares of Arris Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Morgan Stanley initiated coverage on shares of Arris Group in a research note on Tuesday. They set an “overweight” rating and a $34.00 price objective on the stock. Finally, Royal Bank Of Canada boosted their price objective on shares of Arris Group from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $33.00.
Arris Group (NASDAQ:ARRS) traded down 2.15% during midday trading on Friday, reaching $28.69. 979,521 shares of the company’s stock traded hands. The firm’s 50-day moving average is $27.67 and its 200 day moving average is $24.33. The firm’s market cap is $5.47 billion. Arris Group has a 52-week low of $20.05 and a 52-week high of $32.93.
Arris Group (NASDAQ:ARRS) last announced its earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates 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. Arris Group had a negative net margin of 1.09% and a positive return on equity of 17.91%. The company’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. Equities research analysts expect that Arris Group will post $2.82 earnings per share for the current fiscal year.
In related news, insider Bruce William Mcclelland acquired 5,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was purchased at an average cost of $27.15 per share, with a total value of $135,750.00. Following the completion of the acquisition, the insider now directly owns 174,288 shares of the company’s stock, valued at $4,731,919.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ronald Coppock sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $28.50, for a total transaction of $285,000.00. Following the transaction, the insider now directly owns 24,750 shares of the company’s stock, valued at $705,375. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CKW Financial Group bought a new position in Arris Group during the second quarter valued at $123,000. MU Investments Co. Ltd. bought a new position in Arris Group during the second quarter valued at $132,000. Calvert Investment Management Inc. boosted 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 $209,000. Finally, Fox Run Management L.L.C. bought a new position in Arris Group during the second quarter valued at $218,000. 85.06% of the stock is owned by hedge funds and other institutional investors.
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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