A number of other analysts have also recently issued reports on ARRS. Royal Bank Of Canada reiterated a buy rating on shares of Arris Group in a research note on Wednesday, June 1st. Zacks Investment Research upgraded shares of Arris Group from a hold rating to a buy rating and set a $27.00 target price for the company in a research note on Friday, June 10th. Needham & Company LLC reiterated a buy rating and issued a $32.00 target price on shares of Arris Group in a research note on Tuesday, September 13th. Jefferies Group lifted their target price on shares of Arris Group from $31.00 to $34.00 and gave the company a buy rating in a research note on Friday, July 29th. Finally, RBC Capital Markets reiterated an outperform rating and issued a $33.00 target price on shares of Arris Group in a research note on Friday, September 23rd. One 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 currently has a consensus rating of Buy and an average target price of $33.00.
Shares of Arris Group (NASDAQ:ARRS) traded up 0.194% during trading on Thursday, hitting $28.425. 215,253 shares of the stock were exchanged. Arris Group has a 12-month low of $20.05 and a 12-month high of $32.93. The stock’s market cap is $5.42 billion. The stock’s 50 day moving average is $27.85 and its 200-day moving average is $24.50.
Arris Group (NASDAQ:ARRS) last posted its earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share (EPS) for the quarter, beating 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 negative net margin of 1.09% and a positive return on equity of 17.91%. The company’s revenue was up 37.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. Equities research analysts anticipate that Arris Group will post $2.82 EPS for the current year.
In related news, insider Ronald Coppock sold 5,000 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the transaction, the insider now directly owns 19,750 shares in the company, valued at approximately $572,750. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ARRS. Norges Bank acquired a new stake in shares of Arris Group during the fourth quarter valued at about $35,479,000. Texas Permanent School Fund raised its stake in shares of Arris Group by 27.9% in the first quarter. Texas Permanent School Fund now owns 143,124 shares of the company’s stock valued at $3,280,000 after buying an additional 31,251 shares during the period. Commonwealth Equity Services Inc raised its stake in shares of Arris Group by 19.6% in the first quarter. Commonwealth Equity Services Inc now owns 14,038 shares of the company’s stock valued at $322,000 after buying an additional 2,297 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Arris Group by 31.3% in the first quarter. TIAA CREF Investment Management LLC now owns 679,245 shares of the company’s stock valued at $15,568,000 after buying an additional 161,730 shares during the period. Finally, Teachers Advisors Inc. raised its stake in shares of Arris Group by 325.6% in the first quarter. Teachers Advisors Inc. now owns 707,578 shares of the company’s stock valued at $16,218,000 after buying an additional 541,316 shares during the period. Hedge funds and other 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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