Morgan Stanley Issues Positive Forecast for Accelerant (NYSE:ARX) Stock Price

Accelerant (NYSE:ARX) had its target price raised by equities researchers at Morgan Stanley from $15.00 to $16.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price suggests a potential downside of 3.68% from the stock’s current price.

ARX has been the subject of a number of other research reports. Citizens Jmp decreased their price target on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a research report on Monday, April 13th. Raymond James Financial reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Accelerant in a report on Tuesday, February 17th. Wells Fargo & Company raised their price objective on shares of Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Monday. Piper Sandler boosted their target price on shares of Accelerant from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, TD Cowen cut their target price on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.06.

Accelerant Stock Down 0.5%

Shares of NYSE ARX opened at $16.61 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. Accelerant has a 1 year low of $9.18 and a 1 year high of $31.18. The stock’s 50-day simple moving average is $13.26 and its 200-day simple moving average is $13.51. The firm has a market cap of $3.69 billion and a price-to-earnings ratio of -2.38.

Accelerant (NYSE:ARX) last issued its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The firm had revenue of $273.20 million during the quarter. The business’s revenue was up 53.5% on a year-over-year basis. As a group, equities analysts anticipate that Accelerant will post 0.71 earnings per share for the current fiscal year.

Insider Transactions at Accelerant

In other Accelerant news, CFO Jay Michael Green sold 50,000 shares of Accelerant stock in a transaction 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 transaction, the chief financial officer owned 1,175,589 shares of the company’s stock, valued at $15,012,271.53. The trade was a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 66.59% of the stock is owned by company insiders.

Institutional Trading of Accelerant

A number of institutional investors and hedge funds have recently modified their holdings of the business. Security Benefit Life Insurance Co. KS acquired a new stake in Accelerant during the third quarter worth about $80,797,000. Capital World Investors acquired a new position in Accelerant in the third quarter valued at approximately $85,666,000. Barings LLC bought a new position in shares of Accelerant during the third quarter valued at approximately $46,370,000. Alliancebernstein L.P. bought a new position in shares of Accelerant during the third quarter valued at approximately $41,529,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Accelerant during the 3rd quarter worth approximately $33,482,000.

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.