Accelerant Holdings (NYSE:ARX) Given Average Rating of “Hold” by Analysts

Shares of Accelerant Holdings (NYSE:ARX) have been given an average recommendation of “Hold” by the twelve brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $18.95.

Several equities analysts have recently commented on ARX shares. UBS Group set a $16.00 price target on shares of Accelerant in a research report on Thursday, May 21st. Citigroup cut Accelerant from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 13th. Weiss Ratings raised Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. BMO Capital Markets lifted their target price on Accelerant from $16.50 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. Finally, Piper Sandler downgraded Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 price target for the company. in a report on Thursday, August 13th.

Accelerant Trading Up 0.0%

ARX opened at $19.55 on Wednesday. The stock has a market capitalization of $4.27 billion and a PE ratio of -2.94. The firm’s fifty day moving average price is $13.57 and its 200 day moving average price is $13.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.53 and a quick ratio of 1.53. Accelerant has a 12-month low of $9.18 and a 12-month high of $30.48.

Accelerant (NYSE:ARX) last announced its quarterly earnings data on Thursday, August 13th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.16. The company had revenue of $356.90 million during the quarter. Accelerant had a negative net margin of 113.08% and a positive return on equity of 42.79%. As a group, research analysts expect that Accelerant will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling at Accelerant

In other news, CEO Jeffrey L. Radke sold 95,223 shares of Accelerant stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $14.60, for a total value of $1,390,255.80. Following the completion of the transaction, the chief executive officer directly owned 27,751,939 shares of the company’s stock, valued at approximately $405,178,309.40. The trade was a 0.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis James Oneill sold 110,467 shares of Accelerant stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $14.63, for a total transaction of $1,616,132.21. Following the completion of the transaction, the insider directly owned 6,626,772 shares of the company’s stock, valued at $96,949,674.36. This trade represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,236,729 shares of company stock worth $16,547,245 over the last 90 days. 66.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Accelerant

A number of large investors have recently bought and sold shares of the business. State of Wyoming acquired a new position in Accelerant in the first quarter valued at approximately $28,000. Quarry LP acquired a new stake in shares of Accelerant during the 3rd quarter worth approximately $40,000. PNC Financial Services Group Inc. bought a new stake in shares of Accelerant in the 3rd quarter worth approximately $42,000. Royal Bank of Canada lifted its holdings in shares of Accelerant by 50.3% in the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after purchasing an additional 2,585 shares during the last quarter. Finally, CWM LLC acquired a new position in Accelerant during the 4th quarter valued at approximately $109,000.

About Accelerant

Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company’s solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.