Arxis, Inc. (NASDAQ:ARXS – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $54.64.
A number of analysts recently weighed in on ARXS shares. Citigroup increased their price objective on shares of Arxis from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Jefferies Financial Group restated a “buy” rating and set a $60.00 target price on shares of Arxis in a research report on Sunday, August 2nd. Royal Bank Of Canada raised Arxis from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $50.00 to $60.00 in a research note on Friday, October 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $62.00 price target on shares of Arxis in a report on Monday, August 3rd. Finally, Weiss Ratings upgraded Arxis from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th.
Check Out Our Latest Analysis on Arxis
Arxis Stock Up 2.6%
Arxis (NASDAQ:ARXS – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.35. The firm had revenue of $500.73 million for the quarter. Arxis’s revenue was up 25.0% compared to the same quarter last year. Equities analysts anticipate that Arxis will post 0.57 EPS for the current fiscal year.
Hedge Funds Weigh In On Arxis
Several hedge funds have recently bought and sold shares of ARXS. The Manufacturers Life Insurance Company purchased a new stake in Arxis in the 2nd quarter valued at about $207,000. Amundi purchased a new stake in shares of Arxis in the second quarter valued at approximately $358,000. Moody National Bank Trust Division bought a new position in Arxis in the third quarter worth approximately $1,113,000. IMC Chicago LLC bought a new position in Arxis in the second quarter worth approximately $1,146,000. Finally, Envestnet Asset Management Inc. bought a new position in Arxis in the second quarter worth approximately $1,206,000.
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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