Piper Sandler Issues Positive Forecast for Accelerant (NYSE:ARX) Stock Price

Accelerant (NYSE:ARX) had its price target upped by equities research analysts at Piper Sandler from $18.00 to $19.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price would suggest a potential upside of 10.25% from the stock’s previous close.

ARX has been the topic of a number of other reports. Wells Fargo & Company boosted their target price on shares of Accelerant from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Citizens Jmp dropped their target price on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. UBS Group set a $16.00 price target on shares of Accelerant in a research report on Thursday. Morgan Stanley boosted their price target on shares of Accelerant from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Finally, TD Cowen lowered their price target on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.85.

Accelerant Stock Down 0.1%

ARX opened at $17.23 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17. The stock has a market cap of $3.76 billion and a price-to-earnings ratio of -2.47. Accelerant has a twelve month low of $9.18 and a twelve month high of $31.18. The company’s 50-day moving average price is $13.64 and its two-hundred day moving average price is $13.64.

Accelerant (NYSE:ARX) last released 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 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 company’s revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, equities analysts expect that Accelerant will post 0.71 earnings per share for the current year.

Insider Buying and Selling

In other Accelerant news, CFO Jay Michael Green sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $12.77, for a total value of $638,500.00. Following the completion of the transaction, the chief financial officer owned 1,175,589 shares of the company’s stock, valued at $15,012,271.53. The trade was a 4.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 66.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Accelerant

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas grew its stake in Accelerant by 0.6% in the 4th quarter. Teacher Retirement System of Texas now owns 176,043 shares of the technology company’s stock worth $2,878,000 after buying an additional 1,043 shares in the last quarter. State of Wyoming purchased a new position in Accelerant in the 1st quarter worth approximately $28,000. Royal Bank of Canada boosted its stake in shares of Accelerant by 50.3% in 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 in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Accelerant by 73.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,157 shares of the technology company’s stock valued at $82,000 after purchasing an additional 2,611 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Accelerant in the 3rd quarter valued at $40,000.

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.