Arxis, Inc.’s (NASDAQ:ARXS) Lock-Up Period Will Expire Tomorrow

Arxis’ (NASDAQ:ARXS) lock-up period will expire on Tuesday, October 13th. Arxis had issued 40,500,000 shares in its initial public offering on April 16th. The total size of the offering was $1,134,000,000 based on an initial share price of $28.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARXS. Wells Fargo & Company lifted their price target on shares of Arxis from $52.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded Arxis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Citigroup raised their target price on Arxis from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Morgan Stanley reissued an “overweight” rating and set a $62.00 target price on shares of Arxis in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada upgraded Arxis from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $50.00 to $60.00 in a research report on Friday, October 2nd. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.64.

Arxis Price Performance

Shares of ARXS opened at $47.89 on Monday. The stock has a market cap of $19.99 billion and a P/E ratio of 598.62. Arxis has a fifty-two week low of $33.15 and a fifty-two week high of $61.50. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.79 and a current ratio of 5.21. The business’s 50 day simple moving average is $52.73.

Arxis (NASDAQ:ARXS) last released its earnings results on Wednesday, July 29th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.35. The firm had revenue of $500.73 million for the quarter. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. Research analysts forecast that Arxis will post 0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Moody National Bank Trust Division purchased a new position in shares of Arxis in the 3rd quarter valued at about $1,113,000. Envestnet Asset Management Inc. purchased a new stake in Arxis during the second quarter worth about $1,206,000. State Street Corp purchased a new stake in Arxis during the second quarter worth about $9,948,000. The Manufacturers Life Insurance Company acquired a new position in Arxis during the second quarter worth about $207,000. Finally, BlueCrest Capital Management Ltd acquired a new position in Arxis during the second quarter worth about $7,389,000.

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.