Wells Fargo & Company Raises Arxis (NASDAQ:ARXS) Price Target to $63.00

Key Points

• Wells Fargo raised Arxis’ price target from $52 to $63 and maintained an “overweight” rating, implying 13.53% upside from the prior close.
• Analyst sentiment remains positive: 10 analysts rate Arxis a Buy and two rate it Hold, resulting in a “Moderate Buy” consensus and an average price target of $53.18.
• Arxis reported quarterly EPS of $0.28, beating the consensus estimate by $0.35, while revenue rose 25% year over year to $500.73 million.

Arxis (NASDAQ:ARXS - Get Free Report) had its price objective upped by investment analysts at Wells Fargo & Company from $52.00 to $63.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 13.53% from the stock's previous close.

A number of other research firms have also recently commented on ARXS. UBS Group set a $53.00 price target on shares of Arxis in a report on Monday, May 11th. Robert W. Baird assumed coverage on shares of Arxis in a research note on Monday, May 11th. They issued an "outperform" rating and a $55.00 price objective on the stock. Rothschild & Co Redburn started coverage on Arxis in a research report on Monday, May 11th. They set a "buy" rating and a $40.00 target price on the stock. Citigroup upped their price target on shares of Arxis from $54.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Wall Street Zen upgraded Arxis to a "hold" rating in a research report on Saturday, May 2nd. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Arxis currently has an average rating of "Moderate Buy" and an average price target of $53.18.

Arxis Stock Performance

Shares of ARXS opened at $55.49 on Tuesday. The company's 50-day moving average is $43.42. Arxis has a 1-year low of $33.15 and a 1-year high of $58.39.

Arxis (NASDAQ:ARXS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.35. The firm had revenue of $500.73 million during the quarter. The business's revenue was up 25.0% compared to the same quarter last year.

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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