Arxis (NASDAQ:ARXS) Upgraded to “Strong-Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Arxis (NASDAQ:ARXS) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms have also recently commented on ARXS. Rothschild & Co Redburn started coverage on Arxis in a research report on Monday. They issued a “buy” rating and a $40.00 target price on the stock. Royal Bank Of Canada initiated coverage on Arxis in a research note on Monday. They set a “sector perform” rating and a $39.00 price objective for the company. Wall Street Zen raised Arxis to a “hold” rating in a research note on Saturday, May 2nd. Melius Research initiated coverage on Arxis in a research note on Monday. They set a “buy” rating and a $45.00 price objective for the company. Finally, Citigroup assumed coverage on Arxis in a research note on Monday. They set a “buy” rating and a $42.00 price objective for the company. Five investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $45.27.

Arxis Stock Performance

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 Activity at Arxis

In related news, insider Jason Aaron Roth bought 60,000 shares of the business’s stock in a transaction on Friday, April 17th. The shares were bought at an average cost of $28.00 per share, for a total transaction of $1,680,000.00. Following the completion of the acquisition, the insider directly owned 395,515 shares in the company, valued at approximately $11,074,420. This represents a 17.88% 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 Azad Sid Badakhsh bought 36,000 shares of the stock in a transaction on Friday, April 17th. The stock was acquired at an average cost of $28.00 per share, for a total transaction of $1,008,000.00. Following the acquisition, the insider directly owned 403,864 shares in the company, valued at approximately $11,308,192. The trade was a 9.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 201,564 shares of company stock valued at $5,643,792.

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.