Accelerant Holdings (NYSE:ARX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Accelerant Holdings (NYSE:ARX) have been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $18.90.

A number of equities analysts recently commented on the company. BMO Capital Markets increased their price target on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. Wells Fargo & Company upped their price objective on Accelerant from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Weiss Ratings upgraded Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. UBS Group set a $16.00 price objective on Accelerant in a research report on Thursday, May 21st. Finally, Morgan Stanley upped their price objective on Accelerant from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st.

Insider Buying and Selling at Accelerant

In other Accelerant news, Director Nancy Hasley sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total transaction of $458,850.00. Following the sale, the director directly owned 1,362,323 shares in the company, valued at $17,860,054.53. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeffrey L. Radke sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $13.11, for a total value of $1,048,800.00. Following the sale, the chief executive officer owned 28,181,939 shares in the company, valued at approximately $369,465,220.29. This trade represents a 0.28% decrease in their ownership of the stock. 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. Insiders have sold a total of 262,000 shares of company stock worth $3,441,874 over the last ninety days. Company insiders own 66.59% of the company’s stock.

Institutional Investors Weigh In On Accelerant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARX. Militia Capital Management LLC purchased a new stake in shares of Accelerant in the first quarter worth approximately $2,004,000. Royal Bank of Canada raised its holdings in shares of Accelerant by 50.3% in the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after buying an additional 2,585 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Accelerant in the first quarter worth approximately $137,000. SummitTX Capital L.P. raised its holdings in shares of Accelerant by 11.0% in the first quarter. SummitTX Capital L.P. now owns 62,999 shares of the technology company’s stock worth $842,000 after buying an additional 6,219 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of Accelerant in the first quarter worth approximately $239,000.

Accelerant Stock Performance

NYSE ARX opened at $13.71 on Tuesday. The firm has a market cap of $2.99 billion and a price-to-earnings ratio of -1.97. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $14.39 and a 200-day moving average price of $13.77. Accelerant has a twelve month low of $9.18 and a twelve month high of $31.18.

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 analysts’ consensus estimates of $0.16 by $0.01. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The firm had revenue of $273.20 million during the quarter. The firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, equities research analysts predict that Accelerant will post 0.73 EPS for the current fiscal year.

About Accelerant

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.