Arxis (NASDAQ:ARXS) Now Covered by Analysts at Melius Research

Key Points

• Melius Research initiated coverage on Arxis with a buy rating and a $45 price target, implying about 28.21% upside from the current share price.
• Other firms were also broadly bullish on ARXS, including Morgan Stanley, Citigroup, William Blair, Goldman Sachs, and Rothschild & Co Redburn; overall, the stock has a consensus Moderate Buy rating and a $45.27 average price target.
• Arxis opened at $35.10 and has traded between $34.44 and $39.45 over the past year, while insiders have been buying shares recently, including notable purchases by Director Stephen Duane Oetgen and insider Ross Bradley Sealfon.

Research analysts at Melius Research assumed coverage on shares of Arxis (NASDAQ:ARXS - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a "buy" rating and a $45.00 price target on the stock. Melius Research's price objective suggests a potential upside of 28.21% from the company's current price.

Several other research firms also recently issued reports on ARXS. Morgan Stanley assumed coverage on shares of Arxis in a report on Monday. They set an "overweight" rating and a $44.00 price objective on the stock. Citigroup assumed coverage on shares of Arxis in a research report on Monday. They issued a "buy" rating and a $42.00 target price on the stock. William Blair assumed coverage on shares of Arxis in a research report on Monday. They issued an "outperform" rating on the stock. The Goldman Sachs Group assumed coverage on shares of Arxis in a research report on Monday. They issued a "buy" rating and a $53.00 target price on the stock. Finally, Rothschild & Co Redburn set a $40.00 target price on shares of Arxis and gave the company a "buy" rating in a research report on Monday. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Arxis presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.27.

Arxis Stock Performance

ARXS opened at $35.10 on Monday. Arxis has a 1 year low of $34.44 and a 1 year high of $39.45.

Insider Buying and Selling

In related news, Director Stephen Duane Oetgen acquired 25,000 shares of Arxis stock in a transaction that occurred on Friday, April 17th. The shares were purchased at an average price of $28.00 per share, for a total transaction of $700,000.00. Following the completion of the transaction, the director owned 30,357 shares in the company, valued at $849,996. This represents a 466.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ross Bradley Sealfon bought 12,500 shares of the company's stock in a transaction on Friday, April 17th. The stock was bought at an average price of $28.00 per share, with a total value of $350,000.00. Following the completion of the acquisition, the insider owned 1,102,807 shares in the company, valued at $30,878,596. This represents a 1.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 201,564 shares of company stock worth $5,643,792 in the last 90 days.

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.

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