BlueCrest Capital Management Ltd Purchases Shares of 160,138 Arxis, Inc. $ARXS

Key Points

• BlueCrest Capital Management acquired 160,138 Arxis shares worth approximately $7.4 million during the second quarter. Several other institutional investors, including Alyeska Investment Group and Squarepoint Ops, also initiated positions.
• Analysts remain broadly positive, with 10 Buy ratings, two Holds and one Sell. Arxis has a “Moderate Buy” consensus rating and an average price target of $53.73, while recent targets range as high as $67.
• Arxis reported quarterly EPS of $0.28, beating the $0.07-per-share loss expected, and revenue of $500.73 million, up 25% year over year. Shares opened at $52.43, with a market capitalization of approximately $21.9 billion.

BlueCrest Capital Management Ltd acquired a new position in Arxis, Inc. (NASDAQ:ARXS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 160,138 shares of the company's stock, valued at approximately $7,389,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Amundi bought a new position in Arxis during the second quarter valued at $358,000. IMC Chicago LLC bought a new position in shares of Arxis in the 2nd quarter valued at about $1,146,000. Grandeur Peak Global Advisors LLC purchased a new position in Arxis in the second quarter worth about $2,740,000. Alyeska Investment Group L.P. purchased a new position in Arxis in the second quarter worth about $13,842,000. Finally, Squarepoint Ops LLC bought a new stake in Arxis during the second quarter worth approximately $19,506,000.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ARXS shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $62.00 price objective on shares of Arxis in a research note on Monday, August 3rd. Jefferies Financial Group restated a "buy" rating and issued a $60.00 price target on shares of Arxis in a research report on Sunday, August 2nd. 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. Citigroup boosted their price objective on shares of Arxis from $61.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Finally, Weiss Ratings began coverage on shares of Arxis in a research note on Monday, August 3rd. They issued a "sell (d+)" rating on the stock. Ten equities research 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.73.

Arxis Stock Down 1.4%

Shares of ARXS stock opened at $52.43 on Thursday. The company's 50 day simple moving average is $50.06. The company has a current ratio of 5.21, a quick ratio of 3.79 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $21.89 billion and a price-to-earnings ratio of 655.38. Arxis, Inc. has a 52-week low of $33.15 and a 52-week high of $61.50.

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

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.

Want to see what other hedge funds are holding ARXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arxis, Inc. (NASDAQ:ARXS - Free Report).

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.