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

Accelerant Holdings (NYSE:ARX) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $18.90.

Several equities research analysts recently weighed in on ARX shares. Citizens Jmp cut their target price on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. UBS Group set a $16.00 price objective on shares of Accelerant in a research report on Thursday, May 21st. Piper Sandler increased their price objective on shares of Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Morgan Stanley increased their price objective on shares of Accelerant from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Finally, TD Cowen dropped their price objective on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th.

Institutional Investors Weigh In On Accelerant

A number of large investors have recently modified their holdings of ARX. State of Wyoming purchased a new stake in shares of Accelerant in the 1st quarter valued at approximately $28,000. Quarry LP purchased a new stake in shares of Accelerant in the 3rd quarter valued at approximately $40,000. PNC Financial Services Group Inc. purchased a new stake in shares of Accelerant in the 3rd quarter valued at approximately $42,000. Royal Bank of Canada increased its position in shares of Accelerant by 50.3% in the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock valued at $103,000 after purchasing an additional 2,585 shares during the last quarter. Finally, CWM LLC purchased a new stake in shares of Accelerant in the 4th quarter valued at approximately $109,000.

Accelerant Price Performance

Shares of ARX opened at $12.93 on Tuesday. Accelerant has a fifty-two week low of $9.18 and a fifty-two week high of $31.18. The firm’s 50 day moving average price is $14.38 and its 200 day moving average price is $13.80. The company has a market cap of $2.82 billion and a P/E ratio of -1.86. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17.

Accelerant (NYSE:ARX) last announced its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The firm had revenue of $273.20 million for the quarter. The firm’s quarterly revenue was up 53.5% on a year-over-year basis. On average, research analysts forecast that Accelerant will post 0.73 earnings per share for the current fiscal year.

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.