Shares of ARRIS Group Inc. (NASDAQ:ARRS) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $33.43.
Several research firms have recently weighed in on ARRS. ValuEngine cut shares of ARRIS Group from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Barclays reissued an “equal weight” rating and set a $31.00 price objective on shares of ARRIS Group in a report on Thursday, March 22nd. BidaskClub raised shares of ARRIS Group from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Zacks Investment Research raised shares of ARRIS Group from a “sell” rating to a “hold” rating in a report on Tuesday, February 20th. Finally, Loop Capital began coverage on shares of ARRIS Group in a report on Monday, January 29th. They set a “buy” rating and a $35.00 price objective for the company.
Shares of ARRS traded up $0.28 during mid-day trading on Thursday, hitting $27.45. 954,365 shares of the company traded hands, compared to its average volume of 1,459,558. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.66. ARRIS Group has a 1 year low of $22.60 and a 1 year high of $30.38. The stock has a market capitalization of $5,075.54, a price-to-earnings ratio of 11.30, a PEG ratio of 1.08 and a beta of 1.19.
ARRIS Group (NASDAQ:ARRS) last released its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.12. ARRIS Group had a net margin of 1.41% and a return on equity of 14.69%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. analysts expect that ARRIS Group will post 2.54 earnings per share for the current year.
ARRIS Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 22nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the communications equipment provider to purchase up to 5.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
In other ARRIS Group news, CEO Bruce William Mcclelland bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was bought at an average cost of $25.91 per share, for a total transaction of $51,820.00. Following the completion of the transaction, the chief executive officer now owns 216,158 shares of the company’s stock, valued at approximately $5,600,653.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert J. Stanzione bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were acquired at an average price of $25.55 per share, with a total value of $102,200.00. Following the completion of the transaction, the chairman now directly owns 862,697 shares of the company’s stock, valued at approximately $22,041,908.35. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 9,500 shares of company stock valued at $241,440 and have sold 9,914 shares valued at $261,576. Insiders own 0.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. FNY Partners Fund LP bought a new position in shares of ARRIS Group in the fourth quarter worth approximately $100,000. Icon Advisers Inc. Co. bought a new position in shares of ARRIS Group in the fourth quarter worth approximately $206,000. Capital Fund Management S.A. boosted its position in shares of ARRIS Group by 25.5% in the fourth quarter. Capital Fund Management S.A. now owns 12,300 shares of the communications equipment provider’s stock worth $316,000 after purchasing an additional 2,500 shares during the period. Oakbrook Investments LLC bought a new position in shares of ARRIS Group in the fourth quarter worth approximately $361,000. Finally, Crossmark Global Holdings Inc. boosted its position in shares of ARRIS Group by 27.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 21,163 shares of the communications equipment provider’s stock worth $544,000 after purchasing an additional 4,572 shares during the period. Institutional investors own 88.10% of the company’s stock.
ARRIS Group Company Profile
ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. It operates through three segments, Customer Premises Equipment, Network & Cloud, and Enterprise Networks. The Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.
Receive News & Ratings for ARRIS Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS Group and related companies with MarketBeat.com's FREE daily email newsletter.