Brokerages Set ARRIS Group Inc. (ARRS) Target Price at $33.43

Shares of ARRIS Group Inc. (NASDAQ:ARRS) have been given a consensus rating of “Hold” by the twelve analysts that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $33.43.

A number of research analysts recently issued reports on ARRS shares. BidaskClub upgraded ARRIS Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 27th. TheStreet downgraded ARRIS Group from a “b” rating to a “c+” rating in a report on Friday, January 12th. Loop Capital started coverage on ARRIS Group in a report on Monday, January 29th. They set a “buy” rating and a $35.00 price target on the stock. Zacks Investment Research downgraded ARRIS Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 31st. Finally, ValuEngine downgraded ARRIS Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd.

In other ARRIS Group news, EVP David Potts sold 4,191 shares of the company’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $26.50, for a total transaction of $111,061.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bruce William Mcclelland bought 2,000 shares of ARRIS Group stock in a transaction on Friday, February 16th. The shares were purchased at an average price of $25.91 per share, for a total transaction of $51,820.00. Following the acquisition, the chief executive officer now directly owns 216,158 shares in the company, valued at approximately $5,600,653.78. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 9,500 shares of company stock worth $241,440 and have sold 9,914 shares worth $261,576. 0.90% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of ARRS. FNY Partners Fund LP purchased a new position in shares of ARRIS Group during the 4th quarter worth approximately $100,000. Icon Advisers Inc. Co. purchased a new position in shares of ARRIS Group during the 4th quarter worth approximately $206,000. Capital Fund Management S.A. grew its holdings in shares of ARRIS Group by 25.5% during the 4th quarter. Capital Fund Management S.A. now owns 12,300 shares of the communications equipment provider’s stock worth $316,000 after acquiring an additional 2,500 shares during the period. Oakbrook Investments LLC purchased a new position in shares of ARRIS Group during the 4th quarter worth approximately $361,000. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of ARRIS Group by 27.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 21,163 shares of the communications equipment provider’s stock worth $544,000 after acquiring an additional 4,572 shares during the period. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Shares of ARRS traded down $0.12 during trading hours on Thursday, hitting $27.54. The company had a trading volume of 723,291 shares, compared to its average volume of 1,239,446. The company has a market cap of $5,101.48, a P/E ratio of 11.29, a P/E/G ratio of 1.09 and a beta of 1.19. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. ARRIS Group has a 52-week low of $22.60 and a 52-week high of $30.38.

ARRIS Group (NASDAQ:ARRS) last released its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.12. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. ARRIS Group had a return on equity of 14.69% and a net margin of 1.41%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 earnings per share. equities research analysts forecast that ARRIS Group will post 2.54 earnings per share for the current fiscal year.

ARRIS Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 22nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the communications equipment provider to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: This piece of content was posted by Ticker Report and is the property of of Ticker Report. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/3379762/brokerages-set-arris-group-inc-arrs-target-price-at-33-43.html.

ARRIS Group Company Profile

ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. It operates through three segments, Customer Premises Equipment, Network & Cloud, and Enterprise Networks. The Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.

Analyst Recommendations for ARRIS Group (NASDAQ:ARRS)

Receive News & Ratings for ARRIS Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Markel Co.  Vice Chairman Steven A. Markel Sells 200 Shares
Markel Co. Vice Chairman Steven A. Markel Sells 200 Shares
Bottomline Technologies, Inc.  Director Peter Gibson Purchases 4,000 Shares
Bottomline Technologies, Inc. Director Peter Gibson Purchases 4,000 Shares
Old Dominion Freight Line  Director Leo H. Suggs Sells 800 Shares of Stock
Old Dominion Freight Line Director Leo H. Suggs Sells 800 Shares of Stock
Cara Therapeutics  SVP Frederique Ph.D. Menzaghi Sells 9,000 Shares
Cara Therapeutics SVP Frederique Ph.D. Menzaghi Sells 9,000 Shares
Analysts Set Nexeo Solutions  Price Target at $11.17
Analysts Set Nexeo Solutions Price Target at $11.17
Hologic, Inc.  Given Average Recommendation of “Hold” by Analysts
Hologic, Inc. Given Average Recommendation of “Hold” by Analysts


© 2006-2018 Ticker Report. Google+.