Arris Group Inc. (ARRS) Now Covered by Morgan Stanley
Equities research analysts at Morgan Stanley started coverage on shares of Arris Group Inc. (NASDAQ:ARRS) in a research report issued to clients and investors on Tuesday, StockTargetPrices.com reports. The brokerage set an “overweight” rating and a $34.00 price target on the stock. Morgan Stanley’s price objective would indicate a potential upside of 20.40% from the company’s previous close.
Several other research firms also recently weighed in on ARRS. Zacks Investment Research downgraded Arris Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 9th. Royal Bank Of Canada restated a “buy” rating on shares of Arris Group in a research note on Wednesday, June 1st. Needham & Company LLC restated a “buy” rating and issued a $32.00 price target on shares of Arris Group in a research note on Wednesday, August 24th. RBC Capital Markets restated an “outperform” rating and issued a $33.00 price target (up from $31.00) on shares of Arris Group in a research note on Thursday, July 28th. Finally, TheStreet upgraded Arris Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $33.00.
Arris Group (NASDAQ:ARRS) opened at 28.24 on Tuesday. Arris Group has a one year low of $20.05 and a one year high of $32.93. The stock has a 50 day moving average of $27.52 and a 200 day moving average of $24.22. The company’s market cap is $5.38 billion.
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Arris Group (NASDAQ:ARRS) last announced its quarterly earnings data 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 company earned $1.73 billion during the quarter, compared to the consensus estimate of $1.70 billion. Arris Group had a positive return on equity of 17.91% and a negative net margin of 1.09%. The firm’s revenue was up 37.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. On average, analysts anticipate that Arris Group will post $2.82 earnings per share for the current fiscal year.
In related news, 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 sale, the insider now owns 24,750 shares in the company, valued at approximately $705,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruce William Mcclelland purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were bought at an average price of $27.15 per share, for a total transaction of $135,750.00. Following the acquisition, the insider now directly owns 174,288 shares in the company, valued at approximately $4,731,919.20. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. raised its stake in Arris Group by 5,017.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,319,193 shares of the company’s stock valued at $30,236,000 after buying an additional 1,293,413 shares during the last quarter. State Street Corp raised its stake in Arris Group by 24.7% in the first quarter. State Street Corp now owns 4,764,920 shares of the company’s stock valued at $109,212,000 after buying an additional 944,953 shares during the last quarter. Jericho Capital Asset Management L.P. raised its stake in Arris Group by 3.7% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,218,280 shares of the company’s stock valued at $50,843,000 after buying an additional 79,132 shares during the last quarter. BlackRock Fund Advisors raised its stake in Arris Group by 18.6% in the first quarter. BlackRock Fund Advisors now owns 6,366,229 shares of the company’s stock valued at $145,914,000 after buying an additional 996,393 shares during the last quarter. Finally, JPMorgan Chase & Co. raised 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. Institutional investors own 85.10% 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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