Several other research firms have also recently commented on ARRS. RBC Capital Markets reiterated an outperform rating and set a $33.00 target price on shares of Arris Group in a research note on Friday, September 23rd. Zacks Investment Research cut shares of Arris Group from a strong-buy rating to a hold rating in a research note on Tuesday, September 27th. Stifel Nicolaus reiterated a positive rating and set a $33.00 target price on shares of Arris Group in a research note on Thursday, September 29th. Morgan Stanley assumed coverage on shares of Arris Group in a research note on Tuesday, September 20th. They set an overweight rating and a $34.00 target price for the company. Finally, TheStreet upgraded shares of Arris Group from a hold rating to a buy rating in a research note on Thursday, August 11th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Arris Group presently has a consensus rating of Buy and an average price target of $33.00.
Shares of Arris Group (NASDAQ:ARRS) opened at 27.84 on Tuesday. The firm’s market capitalization is $5.31 billion. The stock has a 50 day moving average of $27.87 and a 200-day moving average of $24.66. Arris Group has a 52 week low of $20.05 and a 52 week high of $32.93.
Arris Group (NASDAQ:ARRS) last released its earnings results on Wednesday, July 27th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters’ 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 business’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. Analysts expect that Arris Group will post $2.82 earnings per share for the current year.
In other news, insider Bruce William Mcclelland bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was acquired at an average price of $27.15 per share, for a total transaction of $135,750.00. Following the transaction, the insider now directly owns 174,288 shares of the company’s stock, valued at approximately $4,731,919.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ronald Coppock sold 10,000 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $28.50, for a total transaction of $285,000.00. Following the sale, the insider now owns 24,750 shares of the company’s stock, valued at approximately $705,375. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in ARRS. CKW Financial Group purchased a new stake in shares of Arris Group during the second quarter worth about $123,000. MU Investments Co. Ltd. purchased a new stake in shares of Arris Group during the second quarter worth about $132,000. Calvert Investment Management Inc. boosted its stake in shares of 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 period. Marshall Wace LLP purchased a new stake in shares of Arris Group during the second quarter worth about $209,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Arris Group during the second quarter worth approximately $218,000. Institutional investors and hedge funds 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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