Arxis (NASDAQ:ARXS) Releases Quarterly Earnings Results, Beats Expectations By $0.35 EPS

Arxis (NASDAQ:ARXS) released its quarterly earnings data on Wednesday. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.35, FiscalAI reports. The business had revenue of $500.73 million during the quarter. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year.

Arxis Trading Up 12.7%

Arxis stock traded up $6.21 during trading hours on Friday, hitting $55.19. The stock had a trading volume of 856,459 shares, compared to its average volume of 1,145,386. The business has a 50 day moving average of $42.65. Arxis has a one year low of $33.15 and a one year high of $55.19.

Wall Street Analyst Weigh In

ARXS has been the subject of a number of research reports. Royal Bank Of Canada increased their target price on shares of Arxis from $39.00 to $46.00 and gave the stock a “sector perform” rating in a report on Friday, May 29th. UBS Group set a $53.00 price target on shares of Arxis in a report on Monday, May 11th. Wolfe Research assumed coverage on shares of Arxis in a research report on Monday, May 11th. They set an “outperform” rating and a $43.00 price objective for the company. Wall Street Zen raised shares of Arxis to a “hold” rating in a research note on Saturday, May 2nd. Finally, Morgan Stanley raised their target price on shares of Arxis from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.64.

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.