Arris Group Inc. (ARRS) Receives “Buy” Rating from Needham & Company LLC
Needham & Company LLC reaffirmed their buy rating on shares of Arris Group Inc. (NASDAQ:ARRS) in a research note issued to investors on Monday. The firm currently has a $32.00 target price on the stock.
A number of other analysts also recently weighed in on ARRS. RBC Capital Markets reissued an outperform rating and issued a $35.00 price target (up from $33.00) on shares of Arris Group in a report on Monday. Zacks Investment Research downgraded shares of Arris Group from a buy rating to a hold rating in a report on Wednesday, June 15th. Jefferies Group increased their price target on shares of Arris Group from $31.00 to $34.00 and gave the company a buy rating in a report on Friday, July 29th. Stifel Nicolaus reaffirmed a positive rating and set a $33.00 price objective on shares of Arris Group in a report on Thursday, September 29th. Finally, Royal Bank Of Canada raised their price objective on shares of Arris Group from $31.00 to $33.00 and gave the stock an outperform rating in a report on Thursday, July 28th. One 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. Arris Group currently has an average rating of Buy and an average price target of $33.20.
Arris Group (NASDAQ:ARRS) traded down 2.685% on Monday, reaching $28.815. 183,064 shares of the company’s stock traded hands. The stock’s market capitalization is $5.49 billion. The firm’s 50-day moving average is $28.03 and its 200 day moving average is $24.82. Arris Group has a 52-week low of $20.05 and a 52-week high of $32.93.
Arris Group (NASDAQ:ARRS) last issued its quarterly 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. Arris Group had a negative net margin of 1.09% and a positive return on equity of 17.91%. The firm earned $1.73 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm earned $0.53 EPS. The business’s revenue was up 37.3% on a year-over-year basis. Analysts forecast that Arris Group will post $2.82 EPS for the current year.
In other Arris Group news, insider Ronald Coppock sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $28.50, for a total value of $285,000.00. Following the completion of the sale, the insider now owns 24,750 shares in the company, valued at approximately $705,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruce William Mcclelland acquired 5,000 shares of the stock in a transaction on Friday, August 26th. The stock was bought at an average price of $27.15 per share, with a total value of $135,750.00. Following the transaction, the insider now directly owns 174,288 shares in the company, valued at approximately $4,731,919.20. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Commonwealth Equity Services Inc boosted its stake in Arris Group by 19.6% in the first quarter. Commonwealth Equity Services Inc now owns 14,038 shares of the company’s stock valued at $322,000 after buying an additional 2,297 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Arris Group by 31.3% in the first quarter. TIAA CREF Investment Management LLC now owns 679,245 shares of the company’s stock valued at $15,568,000 after buying an additional 161,730 shares during the last quarter. Teachers Advisors Inc. boosted its stake in Arris Group by 325.6% in the first quarter. Teachers Advisors Inc. now owns 707,578 shares of the company’s stock valued at $16,218,000 after buying an additional 541,316 shares during the last quarter. Prudential Financial Inc. boosted its stake in Arris Group by 1,154.5% in the first quarter. Prudential Financial Inc. now owns 1,133,132 shares of the company’s stock valued at $25,971,000 after buying an additional 1,042,810 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Arris Group by 50.3% in the first quarter. BlackRock Inc. now owns 166,056 shares of the company’s stock valued at $3,805,000 after buying an additional 55,605 shares during 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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