Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group in a research note issued to investors on Tuesday. They currently have a $34.00 target price on the stock. Jefferies Group’s target price indicates a potential upside of 22.26% from the stock’s current price.
A number of other equities analysts have also issued reports on the company. Zacks Investment Research lowered Arris Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Needham & Company LLC raised their target price on Arris Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. TheStreet upgraded Arris Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. RBC Capital Markets restated an “outperform” rating and issued a $33.00 target price on shares of Arris Group in a research note on Friday, September 23rd. Finally, Morgan Stanley initiated coverage on Arris Group in a research note on Tuesday, September 20th. They issued an “overweight” rating and a $34.00 target price for the company. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Arris Group has a consensus rating of “Buy” and a consensus target price of $33.00.
Arris Group (NASDAQ:ARRS) opened at 27.81 on Tuesday. Arris Group has a 1-year low of $20.05 and a 1-year high of $32.93. The stock has a 50 day moving average price of $27.87 and a 200-day moving average price of $24.68. The company’s market cap is $5.30 billion.
Arris Group (NASDAQ:ARRS) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.19. The firm earned $1.73 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Arris Group had a positive return on equity of 17.91% and a negative net margin of 1.09%. The business’s quarterly revenue was up 37.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. On average, equities research analysts forecast that Arris Group will post $2.82 EPS for the current year.
In related news, insider Ronald Coppock sold 10,000 shares of Arris Group stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $28.50, for a total value of $285,000.00. Following 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 at this link. Also, insider Bruce William Mcclelland acquired 5,000 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was purchased at an average price of $27.15 per share, for a total transaction of $135,750.00. Following the completion of the acquisition, 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. 1.20% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Telemus Capital LLC purchased a new stake in Arris Group during the third quarter valued at about $257,000. Mason Street Advisors LLC purchased a new stake in Arris Group during the second quarter valued at about $1,670,000. Royal Bank of Canada boosted its stake in Arris Group by 11.3% in the second quarter. Royal Bank of Canada now owns 104,994 shares of the company’s stock valued at $2,200,000 after buying an additional 10,628 shares during the last quarter. Calvert Investment Management Inc. boosted 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. Finally, Hillsdale Investment Management Inc. boosted its stake in Arris Group by 2,319.6% in the second quarter. Hillsdale Investment Management Inc. now owns 14,082 shares of the company’s stock valued at $295,000 after buying an additional 13,500 shares during the last quarter. Institutional investors own 85.06% of the company’s stock.
Arris Group Company Profile
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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