Wells Fargo & Company Issues Positive Forecast for Arxis (NASDAQ:ARXS) Stock Price

Arxis (NASDAQ:ARXS) had its target price increased by equities researchers at Wells Fargo & Company from $52.00 to $63.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 13.53% from the stock’s previous close.

ARXS has been the topic of a number of other research reports. Zacks Research upgraded Arxis to a “hold” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Arxis to a “hold” rating in a research report on Saturday, May 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $62.00 target price on shares of Arxis in a research note on Monday. The Goldman Sachs Group initiated coverage on shares of Arxis in a report on Monday, May 11th. They set a “buy” rating and a $53.00 price target for the company. Finally, Rothschild & Co Redburn began coverage on Arxis in a research report on Monday, May 11th. They set a “buy” rating and a $40.00 price objective for the company. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.18.

Arxis Price Performance

NASDAQ ARXS opened at $55.49 on Tuesday. The firm’s fifty day simple moving average is $43.42. Arxis has a 1 year low of $33.15 and a 1 year high of $58.39.

Arxis (NASDAQ:ARXS) last issued its earnings results on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.35. The company had revenue of $500.73 million during the quarter. The company’s quarterly revenue was up 25.0% on a year-over-year basis.

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.