Accelerant Holdings (NYSE:ARX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Accelerant Holdings (NYSE:ARX) have been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $18.50.

A number of research analysts have recently commented on the company. The Goldman Sachs Group reissued a “buy” rating and set a $20.00 price objective on shares of Accelerant in a report on Wednesday, January 7th. TD Cowen lowered their price objective on Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Piper Sandler lowered their price objective on Accelerant from $18.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, February 23rd. Morgan Stanley lowered their price objective on Accelerant from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Wells Fargo & Company upgraded Accelerant from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $17.00 to $15.00 in a research note on Friday, March 20th.

Insiders Place Their Bets

In related news, CFO Jay Michael Green sold 50,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $12.77, for a total transaction of $638,500.00. Following the completion of the sale, the chief financial officer owned 1,175,589 shares in the company, valued at $15,012,271.53. This represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.20% of the stock is currently owned by insiders.

Institutional Trading of Accelerant

Several hedge funds have recently added to or reduced their stakes in ARX. Quarry LP bought a new stake in Accelerant during the 3rd quarter valued at approximately $40,000. PNC Financial Services Group Inc. bought a new stake in Accelerant during the 3rd quarter valued at approximately $42,000. CWM LLC bought a new stake in Accelerant during the 4th quarter valued at approximately $109,000. Jefferies Financial Group Inc. bought a new stake in Accelerant during the 3rd quarter valued at approximately $149,000. Finally, Legal & General Group Plc bought a new stake in Accelerant during the 3rd quarter valued at approximately $149,000.

Accelerant Stock Performance

Shares of NYSE ARX traded down $0.21 during mid-day trading on Thursday, reaching $12.87. 45,886 shares of the company traded hands, compared to its average volume of 1,159,959. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $2.86 billion and a price-to-earnings ratio of -1.86. Accelerant has a fifty-two week low of $9.18 and a fifty-two week high of $31.18.

Accelerant (NYSE:ARX) last issued its quarterly earnings data on Wednesday, March 18th. The technology company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $248.40 million for the quarter. Accelerant had a positive return on equity of 67.99% and a negative net margin of 148.33%.Accelerant’s revenue for the quarter was up 30.3% on a year-over-year basis.

Accelerant Company Profile

Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company’s solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.