Weekly Analysts’ Ratings Updates for Arris Group (ARRS)
Several analysts have recently updated their ratings and price targets for Arris Group (NASDAQ: ARRS):
- 10/10/2016 – Arris Group had its “outperform” rating reaffirmed by analysts at RBC Capital Markets. They now have a $35.00 price target on the stock, up previously from $33.00.
- 10/10/2016 – Arris Group had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $32.00 price target on the stock.
- 10/4/2016 – Arris Group had its “buy” rating reaffirmed by analysts at Jefferies Group. They now have a $34.00 price target on the stock.
- 9/29/2016 – Arris Group had its “positive” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $33.00 price target on the stock.
- 9/27/2016 – Arris Group was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “ARRIS continues to impress with its strong product portfolio and growth initiatives. The company has inked multiple deals of late to expand its product portfolio. ARRIS' VIP5662EW Ultra-HD set-top was recently selected by the Altice-owned Portugal Telecom for its new MEO 4K service in Portugal. The company also expanded its strategic relations with Telefonica through its latest partnership which entails development of a new range of set-tops. ARRIS has also been selected by Dubai-based, Intigral to help in deployment of the company’s new video delivery service in the Middle East and North Africa region. The company recently appointed Bruce McClelland as CEO to succeed Bob Stanzione. We are, however, concerned about foreign exchange-related risks and the company's weak cash position.”
- 9/23/2016 – Arris Group had its “outperform” rating reaffirmed by analysts at RBC Capital Markets. They now have a $33.00 price target on the stock.
- 9/20/2016 – Arris Group is now covered by analysts at Morgan Stanley. They set an “overweight” rating and a $34.00 price target on the stock.
- 9/13/2016 – Arris Group had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $32.00 price target on the stock.
- 8/24/2016 – Arris Group had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $32.00 price target on the stock.
Shares of Arris Group Inc. (NASDAQ:ARRS) traded down 2.54% during midday trading on Thursday, hitting $28.35. The company’s stock had a trading volume of 847,635 shares. The stock’s 50 day moving average is $28.14 and its 200-day moving average is $24.88. Arris Group Inc. has a 52-week low of $20.05 and a 52-week high of $32.93. The firm’s market cap is $5.41 billion.
Arris Group (NASDAQ:ARRS) last issued its earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was up 37.3% on a year-over-year basis. Equities analysts predict that Arris Group Inc. will post $2.82 EPS for the current fiscal year.
In other news, insider Ronald Coppock sold 10,000 shares of Arris Group stock in a transaction 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 owns 24,750 shares in the company, valued at approximately $705,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruce William Mcclelland purchased 5,000 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were acquired at an average price of $27.15 per share, for a total transaction of $135,750.00. Following the purchase, the insider now directly owns 174,288 shares in the company, valued at $4,731,919.20. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.
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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