ARRS has been the subject of a number of other research reports. Jefferies Group reaffirmed a buy rating and issued a $31.00 price objective (down previously from $40.00) on shares of Arris Group in a research note on Friday, June 10th. Needham & Company LLC reaffirmed a buy rating and issued a $32.00 price objective on shares of Arris Group in a research note on Tuesday, September 13th. Zacks Investment Research raised shares of Arris Group from a hold rating to a strong-buy rating and set a $31.00 price objective for the company in a research note on Tuesday, August 9th. 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 research note on Thursday, July 28th. Finally, RBC Capital Markets reaffirmed an outperform rating and issued a $33.00 price objective (up previously from $31.00) on shares of Arris Group in a research note on Thursday, July 28th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $33.00.
Shares of Arris Group (NASDAQ:ARRS) opened at 28.61 on Tuesday. Arris Group has a one year low of $20.05 and a one year high of $32.93. The firm’s market capitalization is $5.46 billion. The company has a 50-day moving average price of $27.72 and a 200 day moving average price of $24.36.
Arris Group (NASDAQ:ARRS) last posted its quarterly 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. 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 firm’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. Analysts expect that Arris Group will post $2.82 earnings per share for the current fiscal year.
In other Arris Group news, insider Bruce William Mcclelland acquired 5,000 shares of Arris Group stock in a transaction that occurred on Friday, August 26th. The stock was acquired at an average price of $27.15 per share, with a total value of $135,750.00. Following the purchase, the insider now owns 174,288 shares in the company, valued at $4,731,919.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the insider now directly owns 24,750 shares of the company’s stock, valued at approximately $705,375. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. CKW Financial Group acquired a new stake in Arris Group during the second quarter valued at about $123,000. MU Investments Co. Ltd. acquired a new stake in Arris Group during the second quarter valued at about $132,000. Calvert Investment Management Inc. raised its stake 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 acquired a new stake in Arris Group during the second quarter valued at about $209,000. Finally, Fox Run Management L.L.C. acquired a new stake in Arris Group during the second quarter valued at about $218,000. 85.06% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Arris Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arris Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.