Arxis (NASDAQ:ARXS) Raised to Strong-Buy at Robert W. Baird

Arxis (NASDAQ:ARXS) was upgraded by stock analysts at Robert W. Baird to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on ARXS. Wells Fargo & Company initiated coverage on shares of Arxis in a research note on Monday. They set an “overweight” rating and a $42.00 price target on the stock. William Blair started coverage on shares of Arxis in a research note on Monday. They issued an “outperform” rating on the stock. Citigroup started coverage on shares of Arxis in a research note on Monday. They issued a “buy” rating and a $42.00 target price on the stock. Wall Street Zen upgraded shares of Arxis to a “hold” rating in a research note on Saturday, May 2nd. Finally, The Goldman Sachs Group started coverage on shares of Arxis in a research note on Monday. They issued a “buy” rating and a $53.00 target price on the stock. Five equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $45.27.

Arxis Trading Up 9.9%

NASDAQ ARXS opened at $38.56 on Monday. Arxis has a twelve month low of $34.44 and a twelve month high of $39.45.

Insider Buying and Selling

In related news, insider Ross Bradley Sealfon acquired 12,500 shares of Arxis stock in a transaction that occurred on Friday, April 17th. The stock was bought at an average price of $28.00 per share, with a total value of $350,000.00. Following the transaction, the insider directly owned 1,102,807 shares in the company, valued at approximately $30,878,596. This represents a 1.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin Scott Perhamus bought 53,600 shares of Arxis stock in a transaction on 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 acquisition, the insider owned 3,573,133 shares in the company, valued at approximately $100,047,724. This represents a 1.52% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 201,564 shares of company stock worth $5,643,792 over the last quarter.

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.