Arxis (NASDAQ:ARXS) Posts Quarterly Earnings Results

Arxis (NASDAQ:ARXS) released its quarterly earnings results on Wednesday. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.35, FiscalAI reports. The business had revenue of $500.73 million for the quarter. The company’s revenue was up 25.0% on a year-over-year basis.

Arxis Stock Down 3.6%

Shares of Arxis stock traded down $1.59 during trading on Wednesday, hitting $42.47. The stock had a trading volume of 1,105,600 shares, compared to its average volume of 1,137,383. The firm’s fifty day simple moving average is $42.36. Arxis has a fifty-two week low of $33.15 and a fifty-two week high of $48.68.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ARXS. Wells Fargo & Company upped their price objective on shares of Arxis from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Wolfe Research assumed coverage on shares of Arxis in a research note on Monday, May 11th. They set an “outperform” rating and a $43.00 target price on the stock. Morgan Stanley boosted their price target on shares of Arxis from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. William Blair began coverage on shares of Arxis in a research note on Monday, May 11th. They issued an “outperform” rating for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Arxis in a report on Monday, May 11th. They issued a “buy” rating and a $53.00 price objective for the company. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.64.

Arxis Company Profile

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.