Accelerant Holdings (NYSE:ARX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Accelerant Holdings (NYSE:ARX) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $18.60.

ARX has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on Accelerant from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. BMO Capital Markets lifted their price objective on shares of Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. TD Cowen reduced their target price on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Piper Sandler increased their target price on shares of Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Finally, Citizens Jmp dropped their price target on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th.

Accelerant Stock Performance

Shares of ARX opened at $13.57 on Friday. The firm has a market capitalization of $2.96 billion and a P/E ratio of -1.95. Accelerant has a 52 week low of $9.18 and a 52 week high of $31.18. The stock has a 50 day moving average price of $14.16 and a two-hundred day moving average price of $13.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61.

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

Insiders Place Their Bets

In other Accelerant news, CEO Jeffrey L. Radke sold 80,000 shares of the stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $13.18, for a total value of $1,054,400.00. Following the completion of the sale, the chief executive officer owned 27,941,939 shares in the company, valued at approximately $368,274,756.02. This trade represents a 0.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis James Oneill sold 73,500 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $13.06, for a total transaction of $959,910.00. Following the completion of the sale, the insider owned 6,976,625 shares of the company’s stock, valued at approximately $91,114,722.50. This trade represents a 1.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 575,500 shares of company stock valued at $7,552,184. Corporate insiders own 66.59% of the company’s stock.

Institutional Trading of Accelerant

A number of hedge funds have recently bought and sold shares of the business. Militia Capital Management LLC purchased a new position in Accelerant in the first quarter worth $2,004,000. Royal Bank of Canada increased its position in shares of Accelerant by 50.3% during the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock valued at $103,000 after purchasing an additional 2,585 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Accelerant during the 1st quarter worth $137,000. SummitTX Capital L.P. raised its stake in shares of Accelerant by 11.0% during the 1st quarter. SummitTX Capital L.P. now owns 62,999 shares of the technology company’s stock worth $842,000 after purchasing an additional 6,219 shares during the period. Finally, Entropy Technologies LP bought a new stake in shares of Accelerant during the 1st quarter worth $239,000.

Accelerant Company Profile

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.