Arxis, Inc. (NASDAQ:ARXS – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $52.00 to $63.00. Wells Fargo & Company currently has an overweight rating on the stock. Arxis traded as high as $58.58 and last traded at $58.05, with a volume of 1287412 shares traded. The stock had previously closed at $53.73.
Other research analysts have also recently issued research reports about the stock. Robert W. Baird started coverage on shares of Arxis in a report on Monday, May 11th. They issued an “outperform” rating and a $55.00 target price on the stock. UBS Group set a $53.00 price target on shares of Arxis in a report on Monday, May 11th. The Goldman Sachs Group initiated coverage on shares of Arxis in a report on Monday, May 11th. They issued a “buy” rating and a $53.00 price target on the stock. Wolfe Research initiated coverage on shares of Arxis in a research report on Monday, May 11th. They issued an “outperform” rating and a $43.00 price objective on the stock. Finally, William Blair started coverage on shares of Arxis in a research note on Monday, May 11th. They set an “outperform” rating for the company. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.18.
View Our Latest Report on Arxis
Arxis Price Performance
Arxis (NASDAQ:ARXS – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.35. The company had revenue of $500.73 million during the quarter. The company’s revenue was up 25.0% on a year-over-year basis.
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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