Accelerant Holdings (NYSE:ARX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Accelerant Holdings (NYSE:ARX) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $18.60.

Several equities research analysts recently weighed in on the company. Raymond James Financial raised their price objective on Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, June 1st. UBS Group set a $16.00 target price on Accelerant in a research report on Thursday, May 21st. Wells Fargo & Company cut their price target on Accelerant from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. BMO Capital Markets boosted their price target on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. Finally, Piper Sandler upped their price objective on Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th.

Insider Activity at Accelerant

In related news, insider Francis James Oneill sold 110,467 shares of Accelerant stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $14.63, for a total value of $1,616,132.21. Following the transaction, the insider directly owned 6,626,772 shares of the company’s stock, valued at $96,949,674.36. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, CEO Jeffrey L. Radke sold 95,223 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $14.60, for a total value of $1,390,255.80. Following the completion of the sale, the chief executive officer owned 27,751,939 shares in the company, valued at $405,178,309.40. The trade was a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,063,405 shares of company stock valued at $14,271,427. Corporate insiders own 66.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming bought a new stake in shares of Accelerant in the 1st quarter valued at $28,000. Quarry LP bought a new position in Accelerant during the third quarter worth $40,000. PNC Financial Services Group Inc. acquired a new position in Accelerant in the third quarter valued at $42,000. Royal Bank of Canada lifted its holdings in Accelerant by 50.3% in the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock valued at $103,000 after buying an additional 2,585 shares during the period. Finally, CWM LLC bought a new stake in Accelerant during the fourth quarter valued at $109,000.

Accelerant Stock Performance

NYSE ARX opened at $12.51 on Wednesday. The firm’s fifty day moving average price is $13.19 and its two-hundred day moving average price is $13.12. The stock has a market cap of $2.73 billion and a PE ratio of -1.79. Accelerant has a fifty-two week low of $9.18 and a fifty-two week high of $30.48. 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 announced its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The company had revenue of $273.20 million during the quarter. The company’s revenue was up 53.5% compared to the same quarter last year. On average, equities analysts expect that Accelerant will post 0.73 EPS for the current fiscal year.

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.