BMO Capital Markets Forecasts Strong Price Appreciation for Accelerant (NYSE:ARX) Stock

Accelerant (NYSE:ARX) had its target price increased by equities researchers at BMO Capital Markets from $16.50 to $17.00 in a note issued to investors on Tuesday, MarketBeat reports. The firm currently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 31.13% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. UBS Group set a $16.00 target price on Accelerant in a research report on Thursday, May 21st. Morgan Stanley upped their target price on Accelerant from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. TD Cowen cut their target price on Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Citizens Jmp cut their target price on Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. Finally, Piper Sandler upped their target price on Accelerant from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Accelerant has a consensus rating of “Moderate Buy” and a consensus target price of $18.90.

Accelerant Stock Performance

Shares of ARX stock opened at $12.96 on Tuesday. The business’s fifty day simple moving average is $14.39 and its 200-day simple moving average is $13.85. The company has a market cap of $2.83 billion and a PE ratio of -1.86. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. Accelerant has a 12-month low of $9.18 and a 12-month high of $31.18.

Accelerant (NYSE:ARX) last issued its quarterly earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business 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 firm’s revenue was up 53.5% compared to the same quarter last year. Analysts expect that Accelerant will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Accelerant news, CFO Jay Michael Green sold 50,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer directly owned 1,175,589 shares of the company’s stock, valued at approximately $15,012,271.53. This represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 66.59% of the company’s stock.

Institutional Investors Weigh In On Accelerant

Hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL acquired a new stake in shares of Accelerant during the 3rd quarter valued at about $1,075,000. UBS Group AG grew its position in shares of Accelerant by 331.9% during the 4th 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. Yorktown Management & Research Co Inc acquired a new stake in shares of Accelerant during the 4th quarter valued at about $970,000. Jefferies Financial Group Inc. grew its position in shares of Accelerant by 349.8% during the 4th 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. Finally, Centiva Capital LP acquired a new stake in shares of Accelerant during the 3rd quarter valued at about $2,249,000.

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.