Arxis, Inc. (NASDAQ:ARXS – Get Free Report) shot up 5.9% during trading on Friday . The stock traded as high as $52.54 and last traded at $51.87. Approximately 328,666 shares changed hands during trading, a decline of 71% from the average daily volume of 1,138,257 shares. The stock had previously closed at $48.98.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. William Blair began coverage on Arxis in a research note on Monday, May 11th. They issued an “outperform” rating for the company. Jefferies Financial Group reissued a “buy” rating and set a $55.00 target price on shares of Arxis in a research report on Sunday, May 31st. Wall Street Zen raised Arxis to a “hold” rating in a report on Saturday, May 2nd. Melius Research began coverage on shares of Arxis in a report on Monday, May 11th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on Arxis from $42.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.64.
Get Our Latest Research Report on ARXS
Arxis Price Performance
Arxis (NASDAQ:ARXS – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.35. The company had revenue of $500.73 million for the quarter. Arxis’s revenue for the quarter was up 25.0% compared to the same quarter last year.
About Arxis
We are a leading designer and manufacturer of proprietary, mission-critical electronic and mechanical components engineered for cutting-edge performance in extreme environments. Leveraging significant intellectual property (“IP”) and world-class engineering capabilities, we design and deliver innovative solutions that address some of our customers’ most complex performance needs. Arxis is the result of a deliberate and disciplined strategy executed by our sponsor, Arcline, and the Arxis management team to create a purpose-built, cohesive business through targeted acquisitions with similar product and end market characteristics.
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