Arxis (NASDAQ:ARXS) Reaches New 52-Week High Following Analyst Upgrade

Arxis, Inc. (NASDAQ:ARXS)’s stock price reached a new 52-week high during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $52.00 to $63.00. Wells Fargo & Company currently has an overweight rating on the stock. Arxis traded as high as $58.58 and last traded at $58.05, with a volume of 1287412 shares. The stock had previously closed at $53.73.

A number of other equities research analysts also recently issued reports on ARXS. Citigroup increased their price objective on shares of Arxis from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Zacks Research upgraded shares of Arxis to a “hold” rating in a research report on Tuesday, May 12th. The Goldman Sachs Group started coverage on shares of Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $53.00 price objective on the stock. Rothschild & Co Redburn assumed coverage on shares of Arxis in a research report on Monday, May 11th. They set a “buy” rating and a $40.00 price objective for the company. Finally, UBS Group set a $53.00 target price on Arxis in a research note on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.18.

Arxis Trading Down 3.4%

The business has a 50-day moving average of $44.40. The company has a market cap of $23.63 billion and a price-to-earnings ratio of 719.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.21 and a quick ratio of 3.79.

Arxis (NASDAQ:ARXS) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.35. The company had revenue of $500.73 million during the quarter. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. On average, equities research analysts anticipate that Arxis, Inc. will post 0.57 EPS for the current fiscal year.

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.