Alyeska Investment Group L.P. Makes New $13.84 Million Investment in Arxis, Inc. $ARXS

Key Points

• Alyeska Investment Group purchased 300,000 Arxis shares worth approximately $13.84 million, representing a 0.07% stake, during the second quarter.
• Arxis reported quarterly earnings of $0.28 per share, beating expectations by $0.35, while revenue rose 25% year over year to $500.73 million.
• Analysts maintain a generally positive outlook, with 10 Buy, two Hold, and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $53.73.

Alyeska Investment Group L.P. bought a new stake in Arxis, Inc. (NASDAQ:ARXS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 300,000 shares of the company's stock, valued at approximately $13,842,000. Alyeska Investment Group L.P. owned 0.07% of Arxis as of its most recent SEC filing.

Arxis Stock Performance

Shares of NASDAQ:ARXS opened at $51.77 on Tuesday. Arxis, Inc. has a 52-week low of $33.15 and a 52-week high of $61.50. The firm has a market capitalization of $21.61 billion and a P/E ratio of 647.12. The company has a quick ratio of 3.79, a current ratio of 5.21 and a debt-to-equity ratio of 0.38. The business's fifty day moving average is $49.01.

Arxis (NASDAQ:ARXS - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $500.73 million for the quarter. The business's quarterly revenue was up 25.0% on a year-over-year basis. On average, equities analysts forecast that Arxis, Inc. will post 0.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ARXS has been the subject of several recent analyst reports. Citigroup upped their target price on Arxis from $61.00 to $67.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Rothschild & Co Redburn began coverage on Arxis in a report on Monday, May 11th. They set a "buy" rating and a $40.00 price target for the company. William Blair assumed coverage on Arxis in a research report on Monday, May 11th. They set an "outperform" rating for the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Arxis in a research note on Sunday, August 2nd. Finally, Wolfe Research initiated coverage on Arxis in a research note on Monday, May 11th. They set an "outperform" rating and a $43.00 target price for the company. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $53.73.

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.

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