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

Arxis, Inc. (NASDAQ:ARXS) traded up 5.9% 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 changed hands during mid-day trading, a decline of 71% from the average session volume of 1,138,257 shares. The stock had previously closed at $48.98.

A number of other analysts have also commented on the stock. Rothschild & Co Redburn started coverage on shares of Arxis in a report on Monday, May 11th. They set a “buy” rating and a $40.00 target price for the company. Wall Street Zen raised Arxis to a “hold” rating in a research note on Saturday, May 2nd. UBS Group set a $53.00 price target on Arxis in a research report on Monday, May 11th. Melius Research began coverage on Arxis in a research note on Monday, May 11th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Morgan Stanley upped their price objective on Arxis from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Arxis currently has an average rating of “Moderate Buy” and a consensus price target of $50.64.

Arxis Stock Performance

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

Arxis (NASDAQ:ARXS) last released 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 firm had revenue of $500.73 million during the quarter. Arxis’s revenue was up 25.0% on a year-over-year basis.

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.