Arxis (NASDAQ:ARXS) Upgraded at Wolfe Research

Arxis (NASDAQ:ARXS) was upgraded by stock analysts at Wolfe Research to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on ARXS. William Blair assumed coverage on Arxis in a research note on Monday. They set an “outperform” rating for the company. UBS Group set a $53.00 price target on shares of Arxis in a report on Monday. Wall Street Zen raised shares of Arxis to a “hold” rating in a report on Saturday, May 2nd. The Goldman Sachs Group initiated coverage on shares of Arxis in a report on Monday. They set a “buy” rating and a $53.00 target price on the stock. Finally, Rothschild & Co Redburn initiated coverage on shares of Arxis in a report on Monday. They issued a “buy” rating and a $40.00 price target on the stock. Five analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Arxis presently has a consensus rating of “Buy” and a consensus price target of $45.27.

Arxis Trading Up 9.9%

ARXS stock opened at $38.56 on Monday. Arxis has a 1-year low of $34.44 and a 1-year high of $39.45.

Insiders Place Their Bets

In other news, Director Stephen Duane Oetgen purchased 25,000 shares of Arxis stock in a transaction that occurred on Friday, April 17th. The stock was bought at an average price of $28.00 per share, with a total value of $700,000.00. Following the completion of the transaction, the director directly owned 30,357 shares of the company’s stock, valued at approximately $849,996. The trade was a 466.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ross Bradley Sealfon purchased 12,500 shares of Arxis stock in a transaction that occurred on Friday, April 17th. The shares were purchased at an average cost of $28.00 per share, with a total value of $350,000.00. Following the transaction, the insider directly owned 1,102,807 shares of the company’s stock, 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 bought a total of 201,564 shares of company stock valued at $5,643,792 over the last ninety days.

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.