Arxis (NASDAQ:ARXS) Price Target Raised to $63.00

Arxis (NASDAQ:ARXS) had its price objective upped by Wells Fargo & Company from $52.00 to $63.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Arxis from $46.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Morgan Stanley reiterated an “overweight” rating and set a $62.00 target price on shares of Arxis in a research report on Monday. Zacks Research upgraded shares of Arxis to a “hold” rating in a research note on Tuesday, May 12th. Robert W. Baird assumed coverage on shares of Arxis in a research report on Monday, May 11th. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, William Blair initiated coverage on shares of Arxis in a research note on Monday, May 11th. They set an “outperform” rating on the stock. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arxis has a consensus rating of “Moderate Buy” and a consensus price target of $53.18.

Arxis Trading Down 3.4%

Shares of NASDAQ ARXS opened at $57.59 on Tuesday. The company has a current ratio of 5.21, a quick ratio of 3.79 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average price is $44.40. Arxis has a 1-year low of $33.15 and a 1-year high of $61.50. The company has a market capitalization of $23.63 billion and a price-to-earnings ratio of 719.88.

Arxis (NASDAQ:ARXS) last issued its earnings results on Wednesday, July 29th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.35. The firm had revenue of $500.73 million during the quarter. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. Analysts forecast that Arxis will post 0.57 EPS for the current year.

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.