Arxis (NASDAQ:ARXS) Releases Earnings Results

Arxis (NASDAQ:ARXS) posted its earnings results on Wednesday. The company reported $999.00 EPS for the quarter, Zacks reports.

Arxis Stock Performance

Shares of ARXS stock traded up $0.22 on Wednesday, reaching $39.75. The stock had a trading volume of 1,424,510 shares, compared to its average volume of 1,218,994. Arxis has a 1 year low of $33.15 and a 1 year high of $40.66.

Insider Activity at Arxis

In related news, insider Ross Bradley Sealfon bought 12,500 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were bought at an average cost of $28.00 per share, for a total transaction of $350,000.00. Following the completion of the transaction, the insider owned 1,102,807 shares of the company’s stock, valued at approximately $30,878,596. This trade represents a 1.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin Scott Perhamus bought 53,600 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were bought at an average price of $28.00 per share, for a total transaction of $1,500,800.00. Following the completion of the transaction, the insider directly owned 3,573,133 shares of the company’s stock, valued at $100,047,724. This represents a 1.52% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 201,564 shares of company stock valued at $5,643,792 in the last ninety days.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group set a $53.00 target price on Arxis in a report on Monday, May 11th. Royal Bank Of Canada assumed coverage on Arxis in a report on Monday, May 11th. They issued a “sector perform” rating and a $39.00 target price for the company. Citigroup began coverage on Arxis in a report on Monday, May 11th. They issued a “buy” rating and a $42.00 target price for the company. Rothschild & Co Redburn began coverage on Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Jefferies Financial Group began coverage on Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $42.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.27.

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.