Arxis (NASDAQ:ARXS) Stock Rating Upgraded by Robert W. Baird

Arxis (NASDAQ:ARXS) was upgraded by stock analysts at Robert W. Baird to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Morgan Stanley initiated coverage on shares of Arxis in a research note on Monday. They issued an “overweight” rating and a $44.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of Arxis in a research note on Monday. They set a “buy” rating and a $53.00 target price for the company. Melius Research initiated coverage on shares of Arxis in a research note on Monday. They set a “buy” rating and a $45.00 target price for the company. UBS Group set a $53.00 target price on shares of Arxis in a research note on Monday. Finally, Wells Fargo & Company started coverage on shares of Arxis in a report on Monday. They set an “overweight” rating and a $42.00 price target for the company. Five equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $45.27.

Arxis Price Performance

Shares of NASDAQ:ARXS opened at $38.56 on Monday. Arxis has a 12-month low of $34.44 and a 12-month high of $39.45.

Insider Transactions at Arxis

In other Arxis news, Director Stephen Duane Oetgen purchased 25,000 shares of the company’s stock in a transaction on Friday, April 17th. The shares were purchased at an average cost 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. The trade was a 466.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin Scott Perhamus purchased 53,600 shares of the company’s stock in a transaction on Friday, April 17th. The stock was acquired at an average price of $28.00 per share, for a total transaction of $1,500,800.00. Following the completion of the transaction, the insider owned 3,573,133 shares of the company’s stock, valued at $100,047,724. This represents a 1.52% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 201,564 shares of company stock valued at $5,643,792 in the last quarter.

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.