Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “outperform” rating reiterated by equities research analysts at RBC Capital Markets in a report released on Friday. They currently have a $33.00 price target on the stock. RBC Capital Markets’ price objective points to a potential upside of 16.48% from the stock’s current price.
A number of other research analysts also recently weighed in on ARRS. Zacks Investment Research downgraded shares of Arris Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. Royal Bank Of Canada restated a “buy” rating on shares of Arris Group in a research report on Wednesday, June 1st. Jefferies Group restated a “buy” rating and set a $31.00 price objective (down previously from $40.00) on shares of Arris Group in a research report on Friday, June 10th. Finally, Needham & Company LLC increased their price objective on shares of Arris Group from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $33.00.
Arris Group (NASDAQ:ARRS) opened at 28.33 on Friday. Arris Group has a one year low of $20.05 and a one year high of $32.93. The firm has a 50-day moving average of $27.75 and a 200 day moving average of $24.41. The company’s market capitalization is $5.40 billion.
Arris Group (NASDAQ:ARRS) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.19. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.70 billion. Arris Group had a negative net margin of 1.09% and a positive return on equity of 17.91%. The firm’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, equities analysts forecast that Arris Group will post $2.82 EPS for the current fiscal year.
In other news, insider Bruce William Mcclelland acquired 5,000 shares of Arris Group stock in a transaction dated Friday, August 26th. The stock was purchased at an average cost of $27.15 per share, with a total value of $135,750.00. Following the completion of the purchase, the insider now directly owns 174,288 shares in the company, valued at approximately $4,731,919.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ronald Coppock sold 10,000 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $28.50, for a total transaction of $285,000.00. Following the completion of the sale, the insider now directly owns 24,750 shares of the company’s stock, valued at $705,375. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Arris Group by 25.5% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 10,345,103 shares of the company’s stock worth $216,833,000 after buying an additional 2,104,800 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Arris Group by 3.1% in the second quarter. BlackRock Fund Advisors now owns 6,564,490 shares of the company’s stock worth $137,592,000 after buying an additional 198,261 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Arris Group by 30.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,371,998 shares of the company’s stock worth $123,126,000 after buying an additional 1,259,696 shares during the period. State Street Corp boosted its stake in shares of Arris Group by 24.7% in the first quarter. State Street Corp now owns 4,764,920 shares of the company’s stock worth $109,212,000 after buying an additional 944,953 shares during the period. Finally, First Pacific Advisors LLC boosted its stake in shares of Arris Group by 0.4% in the second quarter. First Pacific Advisors LLC now owns 3,717,862 shares of the company’s stock worth $77,926,000 after buying an additional 14,769 shares during the period. 85.06% of the stock is owned by hedge funds and other institutional investors.
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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