Accelerant Holdings (NYSE:ARX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Accelerant Holdings (NYSE:ARX) have been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $18.1667.

ARX has been the subject of several recent research reports. Raymond James Financial reiterated an “outperform” rating and set a $13.00 target price on shares of Accelerant in a research note on Tuesday, February 17th. Weiss Ratings upgraded shares of Accelerant from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, April 24th. Citizens Jmp decreased their target price on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a research note on Monday, April 13th. Piper Sandler decreased their target price on shares of Accelerant from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, February 23rd. Finally, Morgan Stanley decreased their target price on shares of Accelerant from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th.

Accelerant Price Performance

Shares of ARX opened at $13.09 on Monday. Accelerant has a fifty-two week low of $9.18 and a fifty-two week high of $31.18. The company has a market capitalization of $2.91 billion and a price-to-earnings ratio of -1.89. The firm has a 50-day simple moving average of $12.43 and a 200-day simple moving average of $13.39. 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 announced its earnings results on Wednesday, March 18th. The technology company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. Accelerant had a negative net margin of 148.33% and a positive return on equity of 67.99%. The business had revenue of $248.40 million during the quarter. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, equities research analysts anticipate that Accelerant will post 0.68 earnings per share for the current year.

Insider Buying and Selling at Accelerant

In other news, CFO Jay Michael Green sold 50,000 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $12.77, for a total transaction of $638,500.00. Following the completion of the sale, the chief financial officer owned 1,175,589 shares in the company, valued at approximately $15,012,271.53. This represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 66.59% of the company’s stock.

Institutional Investors Weigh In On Accelerant

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Accelerant in the third quarter valued at about $40,000. PNC Financial Services Group Inc. acquired a new stake in Accelerant in the third quarter valued at about $42,000. CWM LLC acquired a new stake in Accelerant in the fourth quarter valued at about $109,000. Jefferies Financial Group Inc. acquired a new stake in Accelerant in the third quarter valued at about $149,000. Finally, Legal & General Group Plc acquired a new stake in Accelerant in the third quarter valued at about $149,000.

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.