Arxis (NASDAQ:ARXS) Now Covered by Analysts at Melius Research

Research analysts at Melius Research assumed coverage on shares of Arxis (NASDAQ:ARXS) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $45.00 price target on the stock. Melius Research’s price objective suggests a potential upside of 28.21% from the company’s current price.

Several other research firms also recently issued reports on ARXS. Morgan Stanley assumed coverage on shares of Arxis in a report on Monday. They set an “overweight” rating and a $44.00 price objective on the stock. Citigroup assumed coverage on shares of Arxis in a research report on Monday. They issued a “buy” rating and a $42.00 target price on the stock. William Blair assumed coverage on shares of Arxis in a research report on Monday. They issued an “outperform” rating on the stock. The Goldman Sachs Group assumed coverage on shares of Arxis in a research report on Monday. They issued a “buy” rating and a $53.00 target price on the stock. Finally, Rothschild & Co Redburn set a $40.00 target price on shares of Arxis and gave the company a “buy” rating in a research report on Monday. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Arxis presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.27.

Arxis Stock Performance

ARXS opened at $35.10 on Monday. Arxis has a 1 year low of $34.44 and a 1 year high of $39.45.

Insider Buying and Selling

In related news, Director Stephen Duane Oetgen acquired 25,000 shares of Arxis stock in a transaction that occurred on Friday, April 17th. The shares were purchased at an average price of $28.00 per share, for a total transaction of $700,000.00. Following the completion of the transaction, the director owned 30,357 shares in the company, valued at $849,996. This represents a 466.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ross Bradley Sealfon bought 12,500 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, with a total value of $350,000.00. Following the completion of the acquisition, the insider owned 1,102,807 shares in the company, valued at $30,878,596. This represents a 1.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 201,564 shares of company stock worth $5,643,792 in the last 90 days.

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.