Arxis (NASDAQ:ARXS) Now Covered by Analysts at Melius Research

Stock analysts at Melius Research initiated coverage on shares of Arxis (NASDAQ:ARXS) in a research note issued to investors on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $45.00 price target on the stock. Melius Research’s price objective points to a potential upside of 28.21% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Wells Fargo & Company started coverage on shares of Arxis in a research report on Monday. They set an “overweight” rating and a $42.00 price target for the company. Wolfe Research started coverage on shares of Arxis in a research report on Monday. They set an “outperform” rating and a $43.00 price target for the company. The Goldman Sachs Group started coverage on shares of Arxis in a research report on Monday. They set a “buy” rating and a $53.00 price target for the company. Jefferies Financial Group started coverage on shares of Arxis in a research report on Monday. They set a “buy” rating and a $42.00 price target for the company. Finally, Morgan Stanley started coverage on shares of Arxis in a research report on Monday. They set an “overweight” rating and a $44.00 price target for the company. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.27.

Arxis Price Performance

Shares of ARXS opened at $35.10 on Monday. Arxis has a 1-year low of $34.44 and a 1-year high of $39.45.

Insiders Place Their Bets

In other Arxis news, insider Azad Sid Badakhsh acquired 36,000 shares of the stock in a transaction dated Friday, April 17th. The stock was acquired at an average price of $28.00 per share, with a total value of $1,008,000.00. Following the completion of the purchase, the insider owned 403,864 shares in the company, valued at $11,308,192. This trade represents a 9.79% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin Scott Perhamus acquired 53,600 shares of the stock in a transaction dated Friday, April 17th. The stock was acquired at an average cost of $28.00 per share, with a total value of $1,500,800.00. Following the purchase, the insider owned 3,573,133 shares of the company’s stock, valued at approximately $100,047,724. This trade represents a 1.52% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have 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.