IMC Chicago LLC Takes Position in Arxis, Inc. $ARXS

Key Points

• Institutional buying: IMC Chicago LLC acquired 24,841 Arxis shares valued at approximately $1.15 million, while Alyeska Investment Group purchased a new stake worth about $13.84 million during the second quarter.
• Strong quarterly results: Arxis reported quarterly earnings of $0.28 per share, beating estimates by $0.35, with revenue of $500.73 million—up 25% year over year.
• Mixed but generally positive analyst outlook: Citigroup raised its price target to $67, while the stock carries a “Moderate Buy” consensus rating and an average target of $53.73 from analysts.

IMC Chicago LLC acquired a new position in shares of Arxis, Inc. (NASDAQ:ARXS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,841 shares of the company's stock, valued at approximately $1,146,000.

Separately, Alyeska Investment Group L.P. acquired a new stake in Arxis in the 2nd quarter valued at approximately $13,842,000.

Arxis Price Performance

Shares of Arxis stock opened at $52.47 on Friday. Arxis, Inc. has a 52-week low of $33.15 and a 52-week high of $61.50. The company has a market cap of $21.90 billion and a price-to-earnings ratio of 655.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.21 and a quick ratio of 3.79. The firm has a fifty day simple moving average of $48.89.

Arxis (NASDAQ:ARXS - Get Free Report) last released 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 business had revenue of $500.73 million for the quarter. The firm's quarterly revenue was up 25.0% compared to the same quarter last year. Analysts predict that Arxis, Inc. will post 0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citigroup upped their price target on Arxis from $61.00 to $67.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. 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. Royal Bank Of Canada boosted their target price on shares of Arxis from $46.00 to $50.00 and gave the stock a "sector perform" rating in a research report on Friday, July 31st. Zacks Research upgraded shares of Arxis to a "hold" rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised shares of Arxis to a "hold" rating in a report on Saturday, May 2nd. Ten 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 stock. Based on data from MarketBeat, Arxis currently has an average rating of "Moderate Buy" and a consensus target price of $53.73.

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.

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