Accelerant Holdings (NYSE:ARX) Receives $18.90 Consensus Target Price from Analysts

Accelerant Holdings (NYSE:ARX) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $18.90.

Several analysts have recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, June 16th. Piper Sandler lifted their target price on shares of Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Raymond James Financial lifted their target price on shares of Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Weiss Ratings upgraded shares of Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company lifted their target price on shares of Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th.

Insider Buying and Selling

In related news, CEO Jeffrey L. Radke sold 80,000 shares of Accelerant stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $13.11, for a total value of $1,048,800.00. Following the transaction, the chief executive officer owned 28,181,939 shares in the company, valued at $369,465,220.29. This trade represents a 0.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy Hasley sold 35,000 shares of Accelerant stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total transaction of $458,850.00. Following the completion of the transaction, the director owned 1,362,323 shares in the company, valued at approximately $17,860,054.53. The trade was a 2.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 335,500 shares of company stock worth $4,401,784 in the last 90 days. 66.59% of the stock is owned by company insiders.

Hedge Funds Weigh In On Accelerant

A number of large investors have recently added to or reduced their stakes in ARX. UBS Group AG increased its position in shares of Accelerant by 331.9% in the fourth quarter. UBS Group AG now owns 535,637 shares of the technology company’s stock valued at $8,758,000 after acquiring an additional 411,612 shares during the period. Tudor Investment Corp ET AL purchased a new position in shares of Accelerant in the third quarter valued at about $1,075,000. Jefferies Financial Group Inc. increased its position in shares of Accelerant by 349.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company’s stock valued at $735,000 after acquiring an additional 34,980 shares during the period. Yorktown Management & Research Co Inc purchased a new position in shares of Accelerant in the fourth quarter valued at about $970,000. Finally, Azora Capital LP increased its position in shares of Accelerant by 288.9% in the fourth quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock valued at $39,879,000 after acquiring an additional 1,811,976 shares during the period.

Accelerant Stock Performance

Accelerant stock opened at $12.69 on Tuesday. The firm’s fifty day moving average price is $14.37 and its 200-day moving average price is $13.74. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market cap of $2.77 billion and a P/E ratio of -1.82. Accelerant has a fifty-two week low of $9.18 and a fifty-two week high of $31.18.

Accelerant (NYSE:ARX) last posted its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $273.20 million for the quarter. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The business’s quarterly revenue was up 53.5% on a year-over-year basis. On average, equities research analysts expect that Accelerant will post 0.73 earnings per share for the current fiscal 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.