Arxis, Inc. (NASDAQ:ARXS) Stock Has Consensus Target Price of $54.64

Key Points

• Analysts broadly favor Arxis: Thirteen analysts assign the stock a consensus “Moderate Buy” rating, with eleven buys, one hold and one sell. The average 12-month price target is $54.64, while recent targets range from $60 to $67.
• Institutional ownership is expanding: Several investors initiated positions, including State Street with approximately $9.95 million and BlueCrest Capital Management with about $7.39 million.
• Recent results exceeded expectations: Arxis reported quarterly EPS of $0.28 versus consensus expectations for a $0.07 loss, while revenue reached $500.73 million, up 25% year over year.

Arxis, Inc. (NASDAQ:ARXS - Get Free Report) has been given an average rating of "Moderate Buy" by the thirteen analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $54.64.

Several research firms have recently commented on ARXS. Wells Fargo & Company lifted their price objective on shares of Arxis from $52.00 to $63.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Royal Bank Of Canada raised Arxis from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $50.00 to $60.00 in a report on Friday, October 2nd. Jefferies Financial Group restated a "buy" rating and issued a $60.00 price objective on shares of Arxis in a research note on Sunday, August 2nd. Weiss Ratings initiated coverage on Arxis in a research report on Monday, August 3rd. They issued a "sell (d+)" rating on the stock. Finally, Citigroup increased their price target on shares of Arxis from $61.00 to $67.00 and gave the stock a "buy" rating in a report on Thursday, August 13th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ARXS. Moody National Bank Trust Division acquired a new position in Arxis during the third quarter valued at $1,113,000. Envestnet Asset Management Inc. purchased a new stake in Arxis in the second quarter valued at $1,206,000. State Street Corp acquired a new stake in Arxis during the 2nd quarter worth about $9,948,000. The Manufacturers Life Insurance Company purchased a new position in shares of Arxis during the 2nd quarter valued at about $207,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Arxis in the 2nd quarter valued at about $7,389,000.

Arxis Price Performance

Shares of NASDAQ:ARXS opened at $47.05 on Thursday. The company's 50-day simple moving average is $52.90. Arxis has a 1 year low of $33.15 and a 1 year high of $61.50. The firm has a market cap of $19.64 billion and a price-to-earnings ratio of 588.12. The company has a quick ratio of 3.79, a current ratio of 5.21 and a debt-to-equity ratio of 0.38.

Arxis (NASDAQ:ARXS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.35. The business had revenue of $500.73 million for the quarter. The business's revenue for the quarter was up 25.0% on a year-over-year basis. On average, analysts expect that Arxis will post 0.57 EPS for the current 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.

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