Arxis (NASDAQ:ARXS) Upgraded at Wolfe Research

Arxis (NASDAQ:ARXS) was upgraded by equities research analysts at Wolfe Research to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently issued reports on ARXS. Citigroup assumed coverage on Arxis in a research report on Monday. They set a “buy” rating and a $42.00 price target on the stock. William Blair began coverage on shares of Arxis in a research report on Monday. They set an “outperform” rating for the company. Melius Research began coverage on shares of Arxis in a report on Monday. They issued a “buy” rating and a $45.00 price target for the company. Wells Fargo & Company began coverage on shares of Arxis in a report on Monday. They issued an “overweight” rating and a $42.00 price target for the company. Finally, Rothschild & Co Redburn began coverage on shares of Arxis in a research note on Monday. They issued a “buy” rating and a $40.00 price objective on the stock. Five research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $45.27.

Arxis Stock Performance

Shares of NASDAQ ARXS opened at $38.56 on Monday. Arxis has a 12-month low of $34.44 and a 12-month high of $39.45.

Insider Activity at Arxis

In related news, insider Kevin Scott Perhamus purchased 53,600 shares of Arxis stock in a transaction dated Friday, April 17th. The shares were 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. The trade was a 1.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen Duane Oetgen purchased 25,000 shares of Arxis stock in a transaction dated Friday, April 17th. The stock was bought at an average cost of $28.00 per share, for a total transaction of $700,000.00. Following the completion of the purchase, the director directly owned 30,357 shares in the company, valued at approximately $849,996. This trade represents a 466.68% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 201,564 shares of company stock valued at $5,643,792 over the last ninety days.

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.