Arxis (NASDAQ:ARXS) Posts Quarterly Earnings Results, Beats Estimates By $0.35 EPS

Arxis (NASDAQ:ARXS) released its earnings results on Wednesday. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.35, FiscalAI reports. The firm had revenue of $500.73 million during the quarter. Arxis’s revenue was up 25.0% compared to the same quarter last year.

Arxis Stock Performance

ARXS opened at $42.47 on Thursday. The firm has a 50 day moving average of $42.36. Arxis has a 1-year low of $33.15 and a 1-year high of $48.68.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ARXS shares. Wells Fargo & Company upped their price target on shares of Arxis from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 price target on shares of Arxis in a research note on Sunday, May 31st. Melius Research began coverage on Arxis in a research report on Monday, May 11th. They set a “buy” rating and a $45.00 price target on the stock. The Goldman Sachs Group started coverage on Arxis in a research note on Monday, May 11th. They set a “buy” rating and a $53.00 price objective on the stock. Finally, Royal Bank Of Canada increased their price objective on shares of Arxis from $39.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Friday, May 29th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Arxis presently has an average rating of “Moderate Buy” and an average price target of $49.64.

About Arxis

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.