Arxis, Inc.'s (NASDAQ:ARXS) Lock-Up Period Set To End on October 13th

Key Points

• Arxis’ lock-up period ends October 13, allowing insiders and major shareholders to sell shares. The company issued 40.5 million shares in its April public offering, valued at $1.134 billion.
• Analyst sentiment is broadly positive, with 11 Buy ratings, one Hold, and one Sell. MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $54.64.
• Arxis recently exceeded quarterly earnings expectations, reporting $0.28 EPS versus a consensus estimate of a $0.07 loss, while revenue rose 25% year over year to $500.73 million.

Arxis' (NASDAQ:ARXS - Get Free Report) lock-up period will end on Tuesday, October 13th. Arxis had issued 40,500,000 shares in its public offering on April 16th. The total size of the offering was $1,134,000,000 based on an initial share price of $28.00. After the end of Arxis' lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reissued an "overweight" rating and issued a $62.00 target price on shares of Arxis in a research report on Monday, August 3rd. Wells Fargo & Company lifted their price target 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. Citigroup boosted their price target on Arxis from $61.00 to $67.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Weiss Ratings began coverage on Arxis in a research report on Monday, August 3rd. They set a "sell (d+)" rating on the stock. Finally, Royal Bank Of Canada raised Arxis from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $50.00 to $60.00 in a report on Friday. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $54.64.

Arxis Trading Up 0.2%

Shares of NASDAQ:ARXS opened at $50.13 on Tuesday. The firm has a 50 day moving average price of $52.70. Arxis has a 12 month low of $33.15 and a 12 month 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 firm has a market cap of $20.93 billion and a PE ratio of 626.62.

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

Hedge Funds Weigh In On Arxis

A number of institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new position in Arxis in the second quarter valued at about $207,000. Amundi bought a new position in shares of Arxis in the second quarter worth about $358,000. IMC Chicago LLC acquired a new stake in shares of Arxis in the 2nd quarter valued at approximately $1,146,000. Envestnet Asset Management Inc. acquired a new stake in shares of Arxis in the 2nd quarter valued at approximately $1,206,000. Finally, Grandeur Peak Global Advisors LLC bought a new stake in shares of Arxis during the 2nd quarter valued at approximately $2,740,000.

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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