Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “positive” rating reiterated by analysts at Stifel Nicolaus in a research report issued on Thursday.
Other equities analysts have also issued research reports about the company. 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 report on Friday, June 10th. Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of Arris Group in a report on Tuesday, September 13th. Zacks Investment Research raised Arris Group from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a report on Tuesday, August 9th. Royal Bank Of Canada raised their price target on Arris Group from $31.00 to $33.00 and gave the stock an “outperform” rating in a report 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 report on Thursday, July 28th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $33.00.
Shares of Arris Group (NASDAQ:ARRS) traded down 0.18% during trading on Thursday, hitting $28.27. The company’s stock had a trading volume of 1,589,059 shares. The company has a 50-day moving average price of $27.82 and a 200-day moving average price of $24.47. The stock’s market cap is $5.39 billion. Arris Group has a one year low of $20.05 and a one year high of $32.93.
Arris Group (NASDAQ:ARRS) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.19. Arris Group had a positive return on equity of 17.91% and a negative net margin of 1.09%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company posted $0.53 earnings per share. The business’s revenue was up 37.3% on a year-over-year basis. Equities analysts predict that Arris Group 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 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 completion of the sale, the insider now directly owns 24,750 shares in the company, valued at approximately $705,375. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bruce William Mcclelland purchased 5,000 shares of Arris Group stock in a transaction dated Friday, August 26th. The shares were bought at an average price of $27.15 per share, with a total value of $135,750.00. Following the completion of the transaction, the insider now owns 174,288 shares in the company, valued at approximately $4,731,919.20. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. increased its position in shares of Arris Group by 5,017.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,319,193 shares of the company’s stock valued at $30,236,000 after buying an additional 1,293,413 shares in the last quarter. State Street Corp increased its position in shares of Arris Group by 24.7% in the first quarter. State Street Corp now owns 4,764,920 shares of the company’s stock valued at $109,212,000 after buying an additional 944,953 shares in the last quarter. Jericho Capital Asset Management L.P. increased its position in shares of Arris Group by 3.7% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,218,280 shares of the company’s stock valued at $50,843,000 after buying an additional 79,132 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Arris Group by 18.6% in the first quarter. BlackRock Fund Advisors now owns 6,366,229 shares of the company’s stock valued at $145,914,000 after buying an additional 996,393 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Arris Group by 301.3% in the first quarter. JPMorgan Chase & Co. now owns 536,977 shares of the company’s stock valued at $12,308,000 after buying an additional 403,153 shares in the last quarter. 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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