Accelerant (NYSE:ARX) Sets New 12-Month High - Time to Buy?

Key Points

• Accelerant hit a 52-week high, trading as high as $19.90, with shares last quoted at $19.885.
• Analyst sentiment is mixed but leans cautious: the consensus rating is Hold, with a $17.98 average price target—below the recent share price.
• Accelerant reported quarterly EPS of $0.32, beating the $0.16 consensus estimate; quarterly revenue was $303.9 million.

Accelerant Holdings (NYSE:ARX - Get Free Report)'s stock price reached a new 52-week high on Tuesday. The stock traded as high as $19.90 and last traded at $19.8850, with a volume of 350,577 shares traded. The stock had previously closed at $19.88.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ARX shares. William Blair cut shares of Accelerant from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 13th. Raymond James Financial downgraded Accelerant from a "market perform" rating to an "underperform" rating in a report on Wednesday, September 23rd. Piper Sandler cut Accelerant from an "overweight" rating to a "hold" rating and set a $20.25 price objective for the company. in a report on Thursday, August 13th. Citigroup cut shares of Accelerant from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 13th. Finally, TD Cowen downgraded shares of Accelerant from a "buy" rating to a "hold" rating and cut their price target for the stock from $30.00 to $20.25 in a research note on Wednesday, September 30th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $17.98.

Accelerant Trading Up 0.1%

The company has a 50 day moving average of $19.79 and a 200 day moving average of $15.16. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market cap of $4.32 billion, a P/E ratio of -2.99 and a beta of 0.08.

Accelerant (NYSE:ARX - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.16. The business had revenue of $303.90 million during the quarter. Accelerant had a positive return on equity of 42.79% and a negative net margin of 113.08%. Analysts predict that Accelerant Holdings will post 0.90 EPS for the current fiscal year.

Insider Buying and Selling at Accelerant

In other news, Director Nancy Hasley sold 20,489 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $19.56, for a total value of $400,764.84. Following the completion of the transaction, the director directly owned 1,341,834 shares in the company, valued at approximately $26,246,273.04. The trade was a 1.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 66.59% of the company's stock.

Institutional Investors Weigh In On Accelerant

A number of institutional investors and hedge funds have recently bought and sold shares of ARX. Alberta Investment Management Corp purchased a new stake in Accelerant during the third quarter valued at about $6,906,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Accelerant in the third quarter worth $26,000. Transmarket Holdings LP purchased a new position in shares of Accelerant in the third quarter worth $1,773,000. Deer Park Road Corp purchased a new stake in Accelerant during the 3rd quarter valued at $90,645,000. Finally, Sterling Capital Management LLC grew its stake in shares of Accelerant by 543.3% during the 3rd quarter. Sterling Capital Management LLC now owns 1,885 shares of the company's stock valued at $37,000 after purchasing an additional 1,592 shares during the period.

Accelerant Company Profile

Accelerant is a data-driven risk exchange focused on the specialty insurance market. Its platform connects independent specialty insurance underwriters, including managing general agents, with insurance capacity providers seeking access to specialized risks. The company provides technology, data and analytics tools to support underwriting and help its members evaluate and manage insurance portfolios. Through the exchange, underwriters can access capacity, while insurers and other risk-bearing partners can connect with specialist underwriting expertise.

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