Morgan Stanley Has Lowered Expectations for Accelerant (NYSE:ARX) Stock Price

Accelerant (NYSE:ARX) had its price objective cut by equities researchers at Morgan Stanley from $16.00 to $15.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target would suggest a potential upside of 17.19% from the company’s current price.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group restated a “buy” rating and set a $20.00 price objective on shares of Accelerant in a report on Wednesday, January 7th. Wells Fargo & Company raised shares of Accelerant from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $17.00 to $15.00 in a research report on Friday, March 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Accelerant in a report on Monday, December 22nd. Piper Sandler reduced their price target on shares of Accelerant from $18.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, February 23rd. Finally, TD Cowen decreased their price objective on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Ten investment 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.com, Accelerant has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

Accelerant Stock Performance

Shares of ARX traded down $0.28 during trading hours on Monday, hitting $12.80. 32,616 shares of the company were exchanged, compared to its average volume of 1,159,880. 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 firm has a market cap of $2.84 billion and a PE ratio of -1.85. Accelerant has a one year low of $9.18 and a one year high of $31.18.

Accelerant (NYSE:ARX) last announced its earnings results on Wednesday, March 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Accelerant had a positive return on equity of 67.99% and a negative net margin of 148.33%.The company had revenue of $248.40 million for the quarter. The firm’s revenue was up 30.3% compared to the same quarter last year.

Insiders Place Their Bets

In other news, CFO Jay Michael Green sold 50,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $12.77, for a total value of $638,500.00. Following the completion of the sale, the chief financial officer directly owned 1,175,589 shares of the company’s stock, valued at $15,012,271.53. This represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd lifted its position in Accelerant by 66.4% in the 4th quarter. XTX Topco Ltd now owns 106,248 shares of the technology company’s stock worth $1,737,000 after buying an additional 42,383 shares in the last quarter. SummitTX Capital L.P. increased its stake in shares of Accelerant by 77.9% in the fourth quarter. SummitTX Capital L.P. now owns 56,780 shares of the technology company’s stock worth $928,000 after acquiring an additional 24,860 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Accelerant by 35.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,733,595 shares of the technology company’s stock worth $44,694,000 after acquiring an additional 714,811 shares during the last quarter. Azora Capital LP raised its holdings in shares of Accelerant by 288.9% during the fourth quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock worth $39,879,000 after acquiring an additional 1,811,976 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Accelerant during the fourth quarter worth $425,000.

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.