Brokerages Set Accelerant Holdings (NYSE:ARX) Price Target at $18.85

Accelerant Holdings (NYSE:ARX) has earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $19.45.

A number of research firms have recently weighed in on ARX. TD Cowen dropped their target price on Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Weiss Ratings downgraded Accelerant from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. Piper Sandler boosted their target price on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Morgan Stanley boosted their target price on Accelerant from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Finally, Raymond James Financial boosted their target price on Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday.

Insider Activity at Accelerant

In related news, CFO Jay Michael Green sold 50,000 shares of Accelerant stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $12.77, for a total transaction of $638,500.00. Following the completion of the sale, the chief financial officer directly owned 1,175,589 shares of the company’s stock, valued at $15,012,271.53. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 66.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Accelerant

A number of institutional investors have recently made changes to their positions in ARX. Security Benefit Life Insurance Co. KS acquired a new stake in shares of Accelerant during the third quarter worth $80,797,000. Capital World Investors acquired a new stake in shares of Accelerant during the third quarter worth $85,666,000. Barings LLC acquired a new stake in shares of Accelerant during the third quarter worth $46,370,000. Alliancebernstein L.P. acquired a new stake in shares of Accelerant during the third quarter worth $41,529,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Accelerant during the third quarter worth $33,482,000.

Accelerant Trading Up 0.8%

ARX stock opened at $14.73 on Friday. The company has a market cap of $3.21 billion and a P/E ratio of -2.11. Accelerant has a twelve month low of $9.18 and a twelve month high of $31.18. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $14.29 and a 200-day moving average of $13.82.

Accelerant (NYSE:ARX) last released its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $273.20 million during the quarter. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The business’s quarterly revenue was up 53.5% compared to the same quarter last year. As a group, equities research analysts expect that Accelerant will post 0.73 EPS for the current year.

About Accelerant

Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company’s solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.