Accelerant Holdings (NYSE:ARX) Receives $18.60 Average Target Price from Brokerages

Accelerant Holdings (NYSE:ARX) has been given an average rating of “Moderate Buy” by the thirteen research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $18.60.

ARX has been the subject of several analyst reports. Wells Fargo & Company reduced their target price on Accelerant from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. BMO Capital Markets boosted their price objective on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. Morgan Stanley reduced their price objective on shares of Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday, July 6th. Piper Sandler raised their target price on shares of Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, UBS Group set a $16.00 target price on shares of Accelerant in a report on Thursday, May 21st.

Insiders Place Their Bets

In other Accelerant news, CEO Jeffrey L. Radke sold 80,000 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $13.18, for a total transaction of $1,054,400.00. Following the sale, the chief executive officer directly owned 27,941,939 shares of the company’s stock, valued at $368,274,756.02. The trade was a 0.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis James Oneill sold 76,464 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $13.11, for a total value of $1,002,443.04. Following the completion of the sale, the insider owned 7,050,125 shares of the company’s stock, valued at $92,427,138.75. The trade was a 1.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 575,500 shares of company stock worth $7,552,184. Corporate insiders own 66.59% of the company’s stock.

Institutional Investors Weigh In On Accelerant

Institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. acquired a new position in shares of Accelerant in the 3rd quarter valued at about $41,529,000. Vanguard Group Inc. purchased a new position in shares of Accelerant during the 3rd quarter valued at $33,482,000. Balyasny Asset Management L.P. purchased a new position in shares of Accelerant during the 3rd quarter valued at $30,060,000. Azora Capital LP increased its stake in shares of Accelerant by 288.9% in the fourth quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock worth $39,879,000 after acquiring an additional 1,811,976 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of Accelerant in the third quarter worth $23,986,000.

Accelerant Price Performance

NYSE ARX opened at $14.27 on Friday. The stock has a market capitalization of $3.11 billion and a P/E ratio of -2.05. Accelerant has a 1 year low of $9.18 and a 1 year high of $31.18. The business’s fifty day moving average is $14.15 and its two-hundred day moving average is $13.37. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61.

Accelerant (NYSE:ARX) last released its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $273.20 million during the quarter. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.Accelerant’s revenue was up 53.5% on a year-over-year basis. On average, research analysts forecast that Accelerant will post 0.73 earnings per share for the current fiscal year.

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.