Several other research firms have also recently commented on ARRS. RBC Capital Markets restated an outperform rating and set a $35.00 target price (up from $33.00) on shares of Arris Group in a research report on Monday. Zacks Investment Research cut Arris Group from a strong-buy rating to a hold rating in a research report on Tuesday, September 27th. Stifel Nicolaus restated a positive rating and set a $33.00 target price on shares of Arris Group in a research report on Thursday, September 29th. Morgan Stanley assumed coverage on Arris Group in a research report on Tuesday, September 20th. They set an overweight rating and a $34.00 target price for the company. Finally, Jefferies Group restated a buy rating and set a $34.00 target price on shares of Arris Group in a research report on Tuesday, October 4th. One 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 stock. The company has a consensus rating of Buy and an average target price of $33.20.
Arris Group (NASDAQ:ARRS) opened at 28.57 on Monday. The stock’s 50 day moving average price is $28.20 and its 200-day moving average price is $24.90. Arris Group has a 12 month low of $20.05 and a 12 month high of $32.93. The company’s market capitalization is $5.45 billion.
Arris Group (NASDAQ:ARRS) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.19. The company 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 firm’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. On average, equities research analysts predict that Arris Group will post $2.82 EPS for the current fiscal year.
In other news, insider Ronald Coppock sold 5,000 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $29.00, for a total value of $145,000.00. Following the completion of the sale, the insider now owns 19,750 shares of the company’s stock, valued at approximately $572,750. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC raised its position in Arris Group by 0.4% in the second quarter. Profund Advisors LLC now owns 19,285 shares of the company’s stock worth $404,000 after buying an additional 76 shares during the last quarter. Calvert Investment Management Inc. raised its position in Arris Group by 1.7% in the second quarter. Calvert Investment Management Inc. now owns 9,851 shares of the company’s stock worth $206,000 after buying an additional 167 shares during the last quarter. Commonwealth Equity Services Inc raised its position in Arris Group by 1.9% in the second quarter. Commonwealth Equity Services Inc now owns 14,305 shares of the company’s stock worth $300,000 after buying an additional 267 shares during the last quarter. Capstone Asset Management Co. raised its position in Arris Group by 1.5% in the third quarter. Capstone Asset Management Co. now owns 22,111 shares of the company’s stock worth $626,000 after buying an additional 330 shares during the last quarter. Finally, Brant Point Investment Management LLC raised its position in Arris Group by 1.0% in the second quarter. Brant Point Investment Management LLC now owns 59,600 shares of the company’s stock worth $1,249,000 after buying an additional 600 shares during the last quarter. 85.06% of the stock is owned by institutional investors and hedge funds.
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.
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.