Arxis (NASDAQ:ARXS) Price Target Raised to $67.00 at Citigroup

Key Points

• Citigroup raised Arxis’s price target to $67 from $61 while maintaining a “buy” rating, implying 15.54% upside from the previous close.
• Analyst sentiment remains broadly positive: 10 analysts rate the stock a Buy, two a Hold, and one a Sell, producing a “Moderate Buy” consensus and an average target of $53.73.
• Arxis reported quarterly EPS of $0.28, beating estimates by $0.35, while revenue reached $500.73 million, up 25% year over year. Shares recently traded at $57.99, near the company’s 52-week high of $61.50.

Arxis (NASDAQ:ARXS - Get Free Report) had its price target upped by research analysts at Citigroup from $61.00 to $67.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price would suggest a potential upside of 15.54% from the stock's previous close.

A number of other research firms have also commented on ARXS. Morgan Stanley restated an "overweight" rating and issued a $62.00 price objective on shares of Arxis in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Arxis to a "hold" rating in a research report on Saturday, May 2nd. UBS Group set a $53.00 price objective on Arxis in a research report on Monday, May 11th. Jefferies Financial Group restated a "buy" rating and issued a $60.00 target price on shares of Arxis in a research note on Sunday, August 2nd. Finally, Robert W. Baird began coverage on Arxis in a report on Monday, May 11th. They issued an "outperform" rating and a $55.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Arxis currently has an average rating of "Moderate Buy" and a consensus target price of $53.73.

Arxis Price Performance

Shares of NASDAQ ARXS traded down $0.11 during mid-day trading on Thursday, reaching $57.99. 316,551 shares of the company's stock were exchanged, compared to its average volume of 1,118,184. The firm has a market cap of $24.21 billion and a price-to-earnings ratio of 724.88. Arxis has a 52 week low of $33.15 and a 52 week high of $61.50. The company has a quick ratio of 3.79, a current ratio of 5.21 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $45.63.

Arxis (NASDAQ:ARXS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.35. The company had revenue of $500.73 million for the quarter. Arxis's revenue for the quarter was up 25.0% on a year-over-year basis. As a group, sell-side analysts forecast that Arxis will post 0.57 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source