Arxis (NASDAQ:ARXS) Stock Rating Upgraded by Zacks Research

Arxis (NASDAQ:ARXS) was upgraded by stock analysts at Zacks Research to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on the stock. Wall Street Zen raised shares of Arxis to a “hold” rating in a report on Saturday, May 2nd. Royal Bank Of Canada initiated coverage on shares of Arxis in a report on Monday. They issued a “sector perform” rating and a $39.00 price target on the stock. Morgan Stanley initiated coverage on shares of Arxis in a report on Monday. They issued an “overweight” rating and a $44.00 price target on the stock. Melius Research initiated coverage on shares of Arxis in a report on Monday. They issued a “buy” rating and a $45.00 price target on the stock. Finally, UBS Group set a $53.00 price target on shares of Arxis in a report on Monday. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.27.

Arxis Price Performance

ARXS stock opened at $35.40 on Tuesday. Arxis has a 52 week low of $34.44 and a 52 week high of $39.45.

Insiders Place Their Bets

In other news, insider Kevin Scott Perhamus acquired 53,600 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was acquired at an average price of $28.00 per share, with a total value of $1,500,800.00. Following the completion of the transaction, the insider directly owned 3,573,133 shares in the company, valued at approximately $100,047,724. This represents a 1.52% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Azad Sid Badakhsh acquired 36,000 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was purchased at an average cost of $28.00 per share, with a total value of $1,008,000.00. Following the transaction, the insider owned 403,864 shares of the company’s stock, valued at approximately $11,308,192. The trade was a 9.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 201,564 shares of company stock valued at $5,643,792.

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.