Arxis (NASDAQ:ARXS) Trading 4.9% Higher – Here’s What Happened

Arxis, Inc. (NASDAQ:ARXS) rose 4.9% on Monday . The company traded as high as $60.34 and last traded at $60.10. Approximately 73,170 shares changed hands during trading, a decline of 93% from the average daily volume of 1,102,494 shares. The stock had previously closed at $57.28.

Analyst Ratings Changes

ARXS has been the subject of a number of research reports. Morgan Stanley reiterated an “overweight” rating and issued a $62.00 price target on shares of Arxis in a research note on Monday, August 3rd. Weiss Ratings initiated coverage on Arxis in a report on Monday, August 3rd. They issued a “sell (d+)” rating for the company. Wells Fargo & Company increased their target price on Arxis from $52.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Robert W. Baird initiated coverage on Arxis in a research note on Monday, May 11th. They set an “outperform” rating and a $55.00 price target on the stock. Finally, UBS Group set a $53.00 price objective on Arxis in a research note on Monday, May 11th. Ten 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.73.

Arxis Stock Performance

The stock has a fifty day moving average price of $46.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.21 and a quick ratio of 3.79. The company has a market capitalization of $24.19 billion and a PE ratio of 724.38.

Arxis (NASDAQ:ARXS) last announced its earnings results on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.35. The company had revenue of $500.73 million during the quarter. The company’s revenue was up 25.0% compared to the same quarter last year. As a group, equities analysts predict that Arxis, Inc. will post 0.57 earnings per share for the current fiscal 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.