Arxis (NASDAQ:ARXS) Given New $50.00 Price Target at Royal Bank Of Canada

Arxis (NASDAQ:ARXS) had its target price raised by investment analysts at Royal Bank Of Canada from $46.00 to $50.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential downside of 8.32% from the company’s current price.

ARXS has been the topic of several other research reports. Wolfe Research started coverage on shares of Arxis in a research report on Monday, May 11th. They set an “outperform” rating and a $43.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 price objective on shares of Arxis in a research report on Sunday, May 31st. Morgan Stanley raised their target price on Arxis from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Robert W. Baird began coverage on Arxis in a research report on Monday, May 11th. They issued an “outperform” rating and a $55.00 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 note on Monday, June 1st. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Arxis Trading Up 11.4%

Arxis stock traded up $5.56 during midday trading on Friday, hitting $54.54. 922,324 shares of the stock were exchanged, compared to its average volume of 1,145,949. Arxis has a fifty-two week low of $33.15 and a fifty-two week high of $55.24. The stock’s 50-day moving average price is $42.65.

Arxis (NASDAQ:ARXS) last issued its 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. The company’s quarterly revenue 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.