Accelerant (NYSE:ARX) Reaches New 52-Week High – Time to Buy?

Accelerant Holdings (NYSE:ARX) reached a new 52-week high during trading on Tuesday. The stock traded as high as $19.90 and last traded at $19.8850, with a volume of 350,577 shares trading hands. The stock had previously closed at $19.88.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ARX shares. Royal Bank Of Canada cut shares of Accelerant from a “moderate buy” rating to a “hold” rating and set a $20.25 price objective on the stock. in a research note on Friday, August 14th. Raymond James Financial lowered shares of Accelerant from a “market perform” rating to an “underperform” rating in a research report on Wednesday, September 23rd. Citizens Jmp lowered shares of Accelerant from a “market outperform” rating to a “hold” rating in a research report on Friday, August 14th. William Blair cut shares of Accelerant from an “outperform” rating to a “market perform” rating in a report on Thursday, August 13th. Finally, Piper Sandler downgraded shares of Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 price target on the stock. in a research report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.98.

Accelerant Stock Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.53 and a quick ratio of 1.53. The business has a 50-day simple moving average of $19.79 and a 200 day simple moving average of $15.22. The firm has a market cap of $4.32 billion, a PE ratio of -2.99 and a beta of 0.08.

Accelerant (NYSE:ARX) last posted its quarterly earnings data on Thursday, November 12th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Accelerant had a positive return on equity of 42.79% and a negative net margin of 113.08%. The company had revenue of $280.20 million during the quarter. Equities research analysts forecast that Accelerant Holdings will post 0.90 EPS for the current year.

Institutional Trading of Accelerant

Hedge funds and other institutional investors have recently modified their holdings of the company. Ieq Capital LLC bought a new position in Accelerant in the 3rd quarter worth $287,000. Alberta Investment Management Corp bought a new stake in shares of Accelerant in the third quarter worth about $6,906,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Accelerant in the third quarter worth about $26,000. Transmarket Holdings LP purchased a new stake in shares of Accelerant in the third quarter worth about $1,773,000. Finally, Deer Park Road Corp purchased a new stake in shares of Accelerant in the third quarter worth about $90,645,000.

About Accelerant

Accelerant is a data-driven risk exchange focused on the specialty insurance market. Its platform connects independent specialty insurance underwriters, including managing general agents, with insurance capacity providers seeking access to specialized risks. The company provides technology, data and analytics tools to support underwriting and help its members evaluate and manage insurance portfolios. Through the exchange, underwriters can access capacity, while insurers and other risk-bearing partners can connect with specialist underwriting expertise.