Royal Bank Of Canada Issues Positive Forecast for Arxis (NASDAQ:ARXS) Stock Price

Arxis (NASDAQ:ARXS) had its price target lifted by Royal Bank Of Canada from $46.00 to $50.00 in a research note published on Friday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Several other equities analysts have also weighed in on ARXS. Melius Research assumed coverage on shares of Arxis in a report on Monday, May 11th. They set a “buy” rating and a $45.00 price objective on the stock. Wells Fargo & Company raised their target price on Arxis from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Rothschild & Co Redburn assumed coverage on Arxis in a research report on Monday, May 11th. They issued a “buy” rating and a $40.00 target price for the company. Wolfe Research started coverage on Arxis in a research note on Monday, May 11th. They set an “outperform” rating and a $43.00 price target on the stock. Finally, Robert W. Baird began coverage on Arxis in a report on Monday, May 11th. They issued an “outperform” rating and a $55.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Arxis currently has an average rating of “Moderate Buy” and a consensus price target of $50.64.

Arxis Stock Performance

Arxis stock opened at $54.30 on Friday. Arxis has a 12-month low of $33.15 and a 12-month high of $55.24. The company’s fifty day moving average is $43.04.

Arxis (NASDAQ:ARXS) last issued its earnings results on Wednesday, July 29th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.35. The company had revenue of $500.73 million for the quarter. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year.

About Arxis

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.