Accelerant Holdings (NYSE:ARX) Receives Consensus Rating of “Moderate Buy” from Analysts

Accelerant Holdings (NYSE:ARX) has earned an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.60.

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Morgan Stanley lowered their price objective on Accelerant from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, July 6th. Piper Sandler upped their target price on Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. UBS Group set a $16.00 target price on Accelerant in a report on Thursday, May 21st. Finally, Wells Fargo & Company decreased their price target on Accelerant from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Radke sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $12.09, for a total transaction of $967,200.00. Following the completion of the sale, the chief executive officer owned 27,591,939 shares of the company’s stock, valued at approximately $333,586,542.51. This represents a 0.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis James Oneill sold 104,647 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $14.56, for a total transaction of $1,523,660.32. Following the sale, the insider owned 6,522,125 shares in the company, valued at $94,962,140. This represents a 1.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,063,405 shares of company stock worth $14,271,427 over the last ninety days. Corporate insiders own 66.59% of the company’s stock.

Institutional Investors Weigh In On Accelerant

A number of large investors have recently modified their holdings of ARX. State of Wyoming acquired a new position in shares of Accelerant during the 1st quarter worth $28,000. Quarry LP bought a new position in Accelerant in the third quarter valued at about $40,000. PNC Financial Services Group Inc. bought a new position in Accelerant in the third quarter valued at about $42,000. Royal Bank of Canada raised its stake in Accelerant by 50.3% during the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after acquiring an additional 2,585 shares in the last quarter. Finally, CWM LLC bought a new position in shares of Accelerant in the fourth quarter worth about $109,000.

Accelerant Price Performance

Shares of Accelerant stock opened at $12.51 on Wednesday. Accelerant has a twelve month low of $9.18 and a twelve month high of $30.48. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $13.19 and a two-hundred day simple moving average of $13.12. The stock has a market capitalization of $2.73 billion and a price-to-earnings ratio of -1.79.

Accelerant (NYSE:ARX) last announced its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The firm had revenue of $273.20 million for the quarter. The business’s revenue was up 53.5% on a year-over-year basis. Analysts forecast that Accelerant will post 0.73 EPS for the current year.

About Accelerant

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.