Arxis, Inc. (NASDAQ:ARXS) Receives $49.27 Average PT from Brokerages

Shares of Arxis, Inc. (NASDAQ:ARXS) have received an average rating of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $49.2727.

A number of equities analysts recently issued reports on the company. Robert W. Baird assumed coverage on Arxis in a report on Monday, May 11th. They set an “outperform” rating and a $55.00 price target on the stock. Wells Fargo & Company raised their price target on Arxis from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. William Blair assumed coverage on Arxis in a report on Monday, May 11th. They set an “outperform” rating on the stock. Wolfe Research assumed coverage on Arxis in a report on Monday, May 11th. They set an “outperform” rating and a $43.00 price target on the stock. Finally, Rothschild & Co Redburn assumed coverage on Arxis in a report on Monday, May 11th. They set a “buy” rating and a $40.00 price target on the stock.

Insider Activity

In other news, insider Kevin Scott Perhamus bought 53,600 shares of Arxis stock in a transaction dated Friday, April 17th. The stock was bought at an average price of $28.00 per share, for a total transaction of $1,500,800.00. Following the purchase, the insider owned 3,573,133 shares of the company’s stock, valued at approximately $100,047,724. The trade was a 1.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen Duane Oetgen bought 25,000 shares of Arxis stock in a transaction dated Friday, April 17th. The stock was purchased at an average price of $28.00 per share, with a total value of $700,000.00. Following the purchase, the director directly owned 30,357 shares in the company, valued at approximately $849,996. This trade represents a 466.68% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 201,564 shares of company stock valued at $5,643,792.

Arxis Stock Performance

ARXS opened at $41.38 on Friday. Arxis has a 52 week low of $33.15 and a 52 week high of $48.68.

Arxis (NASDAQ:ARXS) last released its quarterly earnings results on Wednesday, May 27th. The company reported $999.00 EPS for the quarter.

Arxis Company Profile

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.