Arxis (NASDAQ:ARXS) Raised to “Hold” at Royal Bank Of Canada

Arxis (NASDAQ:ARXS) was upgraded by Royal Bank Of Canada to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. William Blair initiated coverage on shares of Arxis in a research note on Monday. They issued an “outperform” rating on the stock. Wall Street Zen upgraded shares of Arxis to a “hold” rating in a report on Saturday, May 2nd. Robert W. Baird started coverage on shares of Arxis in a research note on Monday. They issued an “outperform” rating and a $55.00 price target for the company. Citigroup started coverage on shares of Arxis in a research report on Monday. They set a “buy” rating and a $42.00 target price for the company. Finally, Morgan Stanley started coverage on shares of Arxis in a research report on Monday. They set an “overweight” rating and a $44.00 target price for the company. Five research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Arxis currently has a consensus rating of “Buy” and an average price target of $45.27.

Arxis Trading Up 9.9%

NASDAQ ARXS opened at $38.56 on Monday. Arxis has a 1 year low of $34.44 and a 1 year high of $39.45.

Insider Buying and Selling at Arxis

In related news, insider Ross Bradley Sealfon bought 12,500 shares of the company’s stock in a transaction on Friday, April 17th. The shares were purchased at an average cost of $28.00 per share, for a total transaction of $350,000.00. Following the completion of the purchase, the insider directly owned 1,102,807 shares in the company, valued at $30,878,596. The trade was a 1.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jason Aaron Roth bought 60,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was bought at an average price of $28.00 per share, for a total transaction of $1,680,000.00. Following the completion of the purchase, the insider owned 395,515 shares of the company’s stock, valued at approximately $11,074,420. The trade was a 17.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 201,564 shares of company stock valued at $5,643,792 in the last quarter.

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.