Arxis (NASDAQ:ARXS) Upgraded to Strong-Buy at Wolfe Research

Wolfe Research upgraded shares of Arxis (NASDAQ:ARXS) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other analysts also recently issued reports on ARXS. Melius Research initiated coverage on Arxis in a research note on Monday. They set a “buy” rating and a $45.00 price target for the company. Citigroup initiated coverage on Arxis in a research note on Monday. They set a “buy” rating and a $42.00 price target for the company. The Goldman Sachs Group initiated coverage on Arxis in a research note on Monday. They set a “buy” rating and a $53.00 price target for the company. Royal Bank Of Canada initiated coverage on Arxis in a research note on Monday. They set a “sector perform” rating and a $39.00 price target for the company. Finally, Wells Fargo & Company initiated coverage on Arxis in a research note on Monday. They set an “overweight” rating and a $42.00 price target for the company. Five analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $45.27.

Arxis Price Performance

Shares of NASDAQ ARXS opened at $38.56 on Monday. Arxis has a one year low of $34.44 and a one year high of $39.45.

Insider Buying and Selling at Arxis

In other Arxis news, insider Jason Aaron Roth acquired 60,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was acquired at an average price of $28.00 per share, with a total value of $1,680,000.00. Following the transaction, the insider owned 395,515 shares of the company’s stock, valued at approximately $11,074,420. This trade represents a 17.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin Scott Perhamus acquired 53,600 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were acquired at an average cost of $28.00 per share, with a total value of $1,500,800.00. Following the transaction, the insider directly owned 3,573,133 shares in the company, valued at $100,047,724. The trade was a 1.52% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 201,564 shares of company stock worth $5,643,792 in the last ninety days.

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.