Arxis (NASDAQ:ARXS) Stock Rating Upgraded by Wells Fargo & Company

Arxis (NASDAQ:ARXS) was upgraded by investment analysts at Wells Fargo & Company to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other brokerages have also commented on ARXS. William Blair initiated coverage on shares of Arxis in a research report on Monday. They issued an “outperform” rating for the company. Robert W. Baird initiated coverage on shares of Arxis in a research report on Monday. They issued an “outperform” rating and a $55.00 price objective for the company. Citigroup initiated coverage on shares of Arxis in a research report on Monday. They issued a “buy” rating and a $42.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Arxis in a research report on Monday. They issued a “buy” rating and a $53.00 price objective for the company. Finally, Royal Bank Of Canada initiated coverage on shares of Arxis in a research report on Monday. They issued a “sector perform” rating and a $39.00 price objective for the company. Five research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Arxis has an average rating of “Buy” and a consensus price target of $45.27.

Arxis Trading Up 9.9%

Shares of Arxis stock opened at $38.56 on Monday. Arxis has a 52 week low of $34.44 and a 52 week high of $39.45.

Insider Activity at Arxis

In related news, insider Kevin Scott Perhamus purchased 53,600 shares of Arxis stock in a transaction dated Friday, April 17th. The shares were acquired at an average price of $28.00 per share, for a total transaction of $1,500,800.00. Following the acquisition, the insider directly owned 3,573,133 shares in the company, valued at approximately $100,047,724. The trade was a 1.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Aaron Roth purchased 60,000 shares of Arxis stock in a transaction dated Friday, April 17th. The shares were bought at an average price of $28.00 per share, for a total transaction of $1,680,000.00. Following the acquisition, the insider owned 395,515 shares in the company, valued at approximately $11,074,420. This trade represents a 17.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 201,564 shares of company stock worth $5,643,792 over the last 90 days.

Arxis Company Profile

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.