Arxis (NASDAQ:ARXS) Raised to “Hold” at Royal Bank Of Canada

Arxis (NASDAQ:ARXS) was upgraded by research analysts at Royal Bank Of Canada to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Arxis to a “hold” rating in a research note on Saturday, May 2nd. The Goldman Sachs Group initiated coverage on shares of Arxis in a research report on Monday. They set a “buy” rating and a $53.00 price target for the company. Morgan Stanley initiated coverage on shares of Arxis in a research report on Monday. They issued an “overweight” rating and a $44.00 target price for the company. Robert W. Baird initiated coverage on shares of Arxis in a research report on Monday. They set an “outperform” rating and a $55.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on shares of Arxis in a research report on Monday. They set a “buy” rating and a $42.00 price target for the company. Five investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Arxis has a consensus rating of “Buy” and an average target price of $45.27.

Arxis Stock Up 9.9%

Shares of ARXS stock opened at $38.56 on Monday. Arxis has a 12 month low of $34.44 and a 12 month high of $39.45.

Insider Transactions at Arxis

In related news, insider Jason Aaron Roth bought 60,000 shares of the stock in a transaction dated Friday, April 17th. The shares were purchased at an average price of $28.00 per share, with a total value of $1,680,000.00. Following the completion of the acquisition, the insider owned 395,515 shares of the company’s stock, valued at $11,074,420. This represents a 17.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Azad Sid Badakhsh bought 36,000 shares of the stock in a transaction dated Friday, April 17th. The stock was bought at an average cost of $28.00 per share, for a total transaction of $1,008,000.00. Following the acquisition, the insider directly owned 403,864 shares of the company’s stock, valued at approximately $11,308,192. This represents a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 201,564 shares of company stock valued at $5,643,792.

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.