Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a note issued to investors on Monday. They presently have a $32.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 11.46% from the company’s previous close.
Several other equities analysts have also issued reports on ARRS. RBC Capital Markets restated an “outperform” rating and issued a $35.00 target price (up previously from $33.00) on shares of Arris Group in a report on Monday. Zacks Investment Research lowered shares of Arris Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 15th. Jefferies Group boosted their target price on shares of Arris Group from $31.00 to $34.00 and gave the company a “buy” rating in a report on Friday, July 29th. Stifel Nicolaus restated a “positive” rating and issued a $33.00 target price on shares of Arris Group in a report on Thursday, September 29th. Finally, Royal Bank Of Canada boosted their target price on shares of Arris Group from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.20.
Arris Group (NASDAQ:ARRS) opened at 28.71 on Monday. Arris Group has a 1-year low of $20.05 and a 1-year high of $32.93. The firm’s market cap is $5.47 billion. The stock has a 50 day moving average price of $28.08 and a 200-day moving average price of $24.85.
Arris Group (NASDAQ:ARRS) last released its earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.19. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. Arris Group had a negative net margin of 1.09% and a positive return on equity of 17.91%. Arris Group’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. Equities research analysts forecast that Arris Group will post $2.82 EPS for the current year.
In other Arris Group news, insider Bruce William Mcclelland bought 5,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was bought at an average cost of $27.15 per share, with a total value of $135,750.00. Following the completion of the transaction, the insider now directly owns 174,288 shares in the company, valued at approximately $4,731,919.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ronald Coppock sold 10,000 shares of the business’s 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 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 company insiders.
Large investors have recently bought and sold shares of the company. NWQ Investment Management Company LLC increased its stake in Arris Group by 15.0% in the first quarter. NWQ Investment Management Company LLC now owns 628,719 shares of the company’s stock valued at $14,410,000 after buying an additional 82,113 shares during the last quarter. Royce & Associates LP increased its stake in Arris Group by 3.4% in the first quarter. Royce & Associates LP now owns 462,000 shares of the company’s stock valued at $10,589,000 after buying an additional 15,000 shares during the last quarter. American Financial Group Inc. increased its stake in Arris Group by 21.5% in the first quarter. American Financial Group Inc. now owns 11,396 shares of the company’s stock valued at $261,000 after buying an additional 2,016 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Arris Group by 301.3% in the first quarter. JPMorgan Chase & Co. now owns 536,977 shares of the company’s stock valued at $12,308,000 after buying an additional 403,153 shares during the last quarter. Finally, BlackRock Japan Co. Ltd acquired a new stake in Arris Group during the first quarter valued at approximately $372,000. 85.06% of the stock is owned by institutional investors.
Arris Group Company Profile