Today: The Arris Group Inc. (ARRS) Earns “Outperform” Rating from RBC Capital Markets

The Arris Group Inc. (ARRS) Earns “Outperform” Rating from RBC Capital Markets

RBC Capital Markets reissued their outperform rating on shares of Arris Group Inc. (NASDAQ:ARRS) in a research report report published on Monday morning. The firm currently has a $35.00 target price on the stock, up from their prior target price of $33.00.

Other research analysts have also issued research reports about the company. Needham & Company LLC restated a buy rating and issued a $32.00 target price on shares of Arris Group in a report on Tuesday, September 13th. Zacks Investment Research upgraded Arris Group from a hold rating to a strong-buy rating and set a $31.00 price target on the stock in a report on Tuesday, August 9th. Royal Bank Of Canada lifted their price target on Arris Group from $31.00 to $33.00 and gave the stock an outperform rating in a report on Thursday, July 28th. Morgan Stanley started coverage on Arris Group in a report on Tuesday, September 20th. They set an overweight rating and a $34.00 price target on the stock. Finally, TheStreet upgraded Arris Group from a hold rating to a buy rating in a report on Thursday, August 11th. One investment 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’s stock. The company presently has an average rating of Buy and a consensus target price of $33.20.

Shares of 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. The company’s market capitalization is $5.45 billion. Arris Group has a 52-week low of $20.05 and a 52-week high of $32.93.

Arris Group (NASDAQ:ARRS) last posted its earnings results 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. Arris Group had a positive return on equity of 17.91% and a negative net margin of 1.09%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 37.3% on a year-over-year basis. On average, equities analysts expect that Arris Group will post $2.82 earnings per share for the current year.

In other news, insider Ronald Coppock sold 5,000 shares of Arris Group stock in a transaction on 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 transaction, the insider now directly owns 19,750 shares in the company, valued at $572,750. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in ARRS. Commonwealth Equity Services Inc boosted its position 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 boosted its position 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. Teachers Advisors Inc. boosted its position 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. Prudential Financial Inc. boosted its position in shares of Arris Group by 1,154.5% in the first quarter. Prudential Financial Inc. now owns 1,133,132 shares of the company’s stock valued at $25,971,000 after buying an additional 1,042,810 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Arris Group by 50.3% in the first quarter. BlackRock Inc. now owns 166,056 shares of the company’s stock valued at $3,805,000 after buying an additional 55,605 shares during the period. Institutional investors own 85.06% of the company’s stock.

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