Arxis (NASDAQ:ARXS) Stock Price Up 5.9% Following Analyst Upgrade

Arxis, Inc. (NASDAQ:ARXS)’s share price traded up 5.9% during mid-day trading on Friday after Royal Bank Of Canada raised their price target on the stock from $46.00 to $50.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Arxis traded as high as $52.54 and last traded at $51.87. Approximately 328,666 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 1,138,257 shares. The stock had previously closed at $48.98.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Company upped their target price on shares of Arxis from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. William Blair assumed coverage on Arxis in a research note on Monday, May 11th. They set an “outperform” rating for the company. Melius Research started coverage on shares of Arxis in a report on Monday, May 11th. They issued a “buy” rating and a $45.00 price objective on the stock. Wolfe Research began coverage on Arxis in a research note on Monday, May 11th. They set an “outperform” rating and a $43.00 target price on the stock. Finally, Robert W. Baird began coverage on shares of Arxis in a research report on Monday, May 11th. They issued an “outperform” rating and a $55.00 price target for the company. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.64.

Arxis Stock Performance

The firm’s fifty day simple moving average is $43.04.

Arxis (NASDAQ:ARXS) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.35. The business had revenue of $500.73 million during the quarter. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year.

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.