Analysts Set Arxis, Inc. (NASDAQ:ARXS) Price Target at $45.67

Arxis, Inc. (NASDAQ:ARXS) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $45.2727.

ARXS has been the topic of several recent analyst reports. Citigroup assumed coverage on Arxis in a research report on Monday, May 11th. They set a “buy” rating and a $42.00 price target on the stock. Wolfe Research assumed coverage on Arxis in a research report on Monday, May 11th. They issued an “outperform” rating and a $43.00 target price on the stock. Wall Street Zen raised Arxis to a “hold” rating in a research report on Saturday, May 2nd. Wells Fargo & Company assumed coverage on Arxis in a research report on Monday, May 11th. They issued an “overweight” rating and a $42.00 target price on the stock. Finally, Royal Bank Of Canada assumed coverage on Arxis in a research report on Monday, May 11th. They issued a “sector perform” rating and a $39.00 target price on the stock.

Arxis Stock Performance

NASDAQ:ARXS opened at $34.59 on Monday. Arxis has a 1-year low of $34.44 and a 1-year high of $39.45.

Insider Buying and Selling

In other news, insider Jason Aaron Roth bought 60,000 shares of the company’s stock in a transaction on Friday, April 17th. The shares were bought at an average cost of $28.00 per share, with a total value of $1,680,000.00. Following the transaction, the insider directly owned 395,515 shares in the company, valued at approximately $11,074,420. This trade represents a 17.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin Scott Perhamus bought 53,600 shares of the company’s stock in a transaction on Friday, April 17th. The stock was purchased at an average cost of $28.00 per share, for a total transaction of $1,500,800.00. Following the completion of the transaction, the insider owned 3,573,133 shares in the company, valued at approximately $100,047,724. The trade was a 1.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 201,564 shares of company stock worth $5,643,792.

About Arxis

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.