22,776 Shares in Arxis, Inc. $ARXS Bought by Inspire Investing LLC

Key Points

• Inspire Investing LLC acquired 22,776 Arxis shares during the third quarter, representing a new position valued at approximately $1.125 million. Several other institutional investors also initiated stakes in the company.
• Arxis reported quarterly EPS of $0.28, beating the $0.07 consensus loss estimate, while revenue rose 25% year over year to $500.73 million.
• Analyst sentiment remains positive, with 11 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $54.64; shares recently opened at $52.73.

Inspire Investing LLC acquired a new stake in Arxis, Inc. (NASDAQ:ARXS - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,776 shares of the company's stock, valued at approximately $1,125,000.

A number of other hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new stake in shares of Arxis in the 3rd quarter valued at $157,000. Moody National Bank Trust Division acquired a new position in Arxis during the third quarter worth about $1,113,000. Envestnet Asset Management Inc. acquired a new position in Arxis during the second quarter worth about $1,206,000. State Street Corp acquired a new position in Arxis during the second quarter worth about $9,948,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Arxis in the second quarter worth about $207,000.

Arxis Price Performance

Shares of ARXS stock opened at $52.73 on Tuesday. Arxis, Inc. has a 1-year low of $33.15 and a 1-year 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 company has a 50-day moving average of $51.57.

Arxis (NASDAQ:ARXS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.35. The company had revenue of $500.73 million during the quarter. The company's revenue for the quarter was up 25.0% compared to the same quarter last year. Research analysts expect that Arxis, Inc. will post 0.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ARXS shares. Royal Bank Of Canada upgraded shares of Arxis from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $50.00 to $60.00 in a research note on Friday, October 2nd. Citigroup upped their price objective on shares of Arxis from $61.00 to $67.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Jefferies Financial Group reissued a "buy" rating and issued a $60.00 price objective on shares of Arxis in a research note on Sunday, August 2nd. Wells Fargo & Company raised their target price on shares of Arxis from $52.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Finally, Morgan Stanley restated an "overweight" rating and issued a $62.00 target price on shares of Arxis in a research report on Monday, August 3rd. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Arxis has a consensus rating of "Moderate Buy" and a consensus target price of $54.64.

Arxis 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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