Arxis (NASDAQ:ARXS) Earns Buy Rating from Analysts at Melius Research

Melius Research began coverage on shares of Arxis (NASDAQ:ARXS) in a research report report published on Monday, MarketBeat.com reports. The firm issued a buy rating and a $45.00 price target on the stock.

Other analysts also recently issued reports about the company. Morgan Stanley initiated coverage on Arxis in a research report on Monday. They set an “overweight” rating and a $44.00 target price on the stock. Royal Bank Of Canada initiated coverage on Arxis in a research report on Monday. They set a “sector perform” rating and a $39.00 target price on the stock. Robert W. Baird initiated coverage on Arxis in a research report on Monday. They set an “outperform” rating and a $55.00 target price on the stock. The Goldman Sachs Group assumed coverage on Arxis in a research report on Monday. They set a “buy” rating and a $53.00 target price on the stock. Finally, Wells Fargo & Company assumed coverage on Arxis in a research report on Monday. They issued an “overweight” rating and a $42.00 price objective on the stock. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.27.

Arxis Stock Down 2.4%

ARXS opened at $35.40 on Monday. Arxis has a one year low of $34.44 and a one year high of $39.45.

Insiders Place Their Bets

In related news, insider Kevin Scott Perhamus acquired 53,600 shares of Arxis stock in a transaction dated Friday, April 17th. The shares were acquired at an average cost of $28.00 per share, for a total transaction of $1,500,800.00. Following the completion of the transaction, the insider directly owned 3,573,133 shares of the company’s stock, valued at $100,047,724. The trade was a 1.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ross Bradley Sealfon acquired 12,500 shares of Arxis stock in a transaction dated Friday, April 17th. The stock was bought at an average price of $28.00 per share, for a total transaction of $350,000.00. Following the completion of the transaction, the insider directly owned 1,102,807 shares of the company’s stock, valued at approximately $30,878,596. This represents a 1.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 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.