Piper Sandler Issues Positive Forecast for Accelerant (NYSE:ARX) Stock Price

Accelerant (NYSE:ARX) had its price target lifted by research analysts at Piper Sandler from $18.00 to $19.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price suggests a potential upside of 10.25% from the company’s current price.

ARX has been the topic of a number of other reports. Citizens Jmp decreased their price target on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. Weiss Ratings lowered shares of Accelerant from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Raymond James Financial restated an “outperform” rating and set a $13.00 target price on shares of Accelerant in a research report on Tuesday, February 17th. Wells Fargo & Company increased their target price on shares of Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Finally, UBS Group set a $16.00 target price on shares of Accelerant in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.85.

Accelerant Price Performance

Shares of ARX stock opened at $17.23 on Tuesday. Accelerant has a 12-month low of $9.18 and a 12-month high of $31.18. The firm has a market capitalization of $3.76 billion and a price-to-earnings ratio of -2.47. 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 firm has a fifty day moving average of $13.64 and a 200-day moving average of $13.64.

Accelerant (NYSE:ARX) last announced its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share 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 during the quarter. The firm’s revenue was up 53.5% on a year-over-year basis. On average, equities research analysts forecast that Accelerant will post 0.71 earnings per share for the current year.

Insiders Place Their Bets

In other Accelerant news, CFO Jay Michael Green sold 50,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $12.77, for a total value of $638,500.00. Following the completion of the sale, the chief financial officer directly owned 1,175,589 shares in the company, valued at approximately $15,012,271.53. This trade represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 66.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Accelerant

A number of large investors have recently bought and sold shares of ARX. Tudor Investment Corp ET AL acquired a new position in shares of Accelerant during the third quarter valued at about $1,075,000. Yorktown Management & Research Co Inc acquired a new position in shares of Accelerant during the fourth quarter valued at about $970,000. UBS Group AG grew its holdings in shares of Accelerant by 331.9% during the fourth quarter. UBS Group AG now owns 535,637 shares of the technology company’s stock valued at $8,758,000 after buying an additional 411,612 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Accelerant by 0.6% during the fourth quarter. Teacher Retirement System of Texas now owns 176,043 shares of the technology company’s stock valued at $2,878,000 after buying an additional 1,043 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new position in shares of Accelerant during the third quarter valued at about $7,756,000.

Accelerant Company Profile

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.