Accelerant Holdings (NYSE:ARX) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analyst consensus: Thirteen analysts give Accelerant a consensus rating of "Moderate Buy" (10 buys, 2 holds, 1 sell) with an average 1-year target price of $18.50.
• Quarterly results were mixed: Accelerant reported $0.23 EPS vs. $0.22 expected and revenue of $248.4M (up 30.3% year-over-year), but reported a negative net margin of -148.33% despite a high return on equity.
• Market and insider moves: Shares traded at $12.87 (down 1.6%), market cap ~$2.86B and P/E of -1.86, while CFO Jay Michael Green sold 50,000 shares and insiders now own about 6.20% of the company.

Accelerant Holdings (NYSE:ARX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the thirteen analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $18.50.

Several research analysts recently weighed in on the company. The Goldman Sachs Group reissued a "buy" rating and set a $20.00 price target on shares of Accelerant in a research report on Wednesday, January 7th. Raymond James Financial reaffirmed an "outperform" rating and issued a $13.00 target price on shares of Accelerant in a research report on Tuesday, February 17th. Piper Sandler dropped their target price on Accelerant from $18.00 to $13.00 and set an "overweight" rating on the stock in a research report on Monday, February 23rd. TD Cowen dropped their target price on Accelerant from $36.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Accelerant in a research report on Monday, December 22nd.

Accelerant Stock Down 1.6%

NYSE:ARX traded down $0.21 during trading hours on Thursday, hitting $12.87. 45,886 shares of the company's stock traded hands, compared to its average volume of 1,159,959. The firm has a market capitalization of $2.86 billion and a price-to-earnings ratio of -1.86. Accelerant has a twelve month low of $9.18 and a twelve month high of $31.18. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17.

Accelerant (NYSE:ARX - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. The firm had revenue of $248.40 million for the quarter. Accelerant had a positive return on equity of 67.99% and a negative net margin of 148.33%.Accelerant's revenue for the quarter was up 30.3% compared to the same quarter last year.

Insiders Place Their Bets

In other Accelerant news, CFO Jay Michael Green sold 50,000 shares of the company's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $12.77, for a total value of $638,500.00. Following the transaction, the chief financial officer directly owned 1,175,589 shares of the company's stock, valued at $15,012,271.53. This represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new position in Accelerant in the 3rd quarter worth about $40,000. PNC Financial Services Group Inc. acquired a new position in Accelerant in the 3rd quarter worth about $42,000. CWM LLC acquired a new position in Accelerant in the 4th quarter worth about $109,000. Jefferies Financial Group Inc. acquired a new position in Accelerant in the 3rd quarter worth about $149,000. Finally, Legal & General Group Plc acquired a new position in shares of Accelerant during the 3rd quarter valued at about $149,000.

Accelerant Company Profile

Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company's solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.

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