Arxis, Inc.’s (NASDAQ:ARXS) Lock-Up Period Set To Expire on October 13th

Arxis’ (NASDAQ:ARXS) lock-up period will expire on Tuesday, October 13th. Arxis had issued 40,500,000 shares in its initial public offering on April 16th. The total size of the offering was $1,134,000,000 based on an initial share price of $28.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

ARXS has been the subject of a number of research reports. Royal Bank Of Canada raised Arxis from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $50.00 to $60.00 in a research note on Friday, October 2nd. Weiss Ratings initiated coverage on Arxis in a research note on Monday, August 3rd. They issued a “sell (d+)” rating on the stock. Wells Fargo & Company upped their price objective on Arxis from $52.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Jefferies Financial Group reiterated a “buy” rating and set a $60.00 target price on shares of Arxis in a research report on Sunday, August 2nd. Finally, Citigroup raised their target price on shares of Arxis from $61.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Arxis has a consensus rating of “Moderate Buy” and an average target price of $54.64.

Arxis Trading Down 4.9%

Shares of NASDAQ:ARXS opened at $47.05 on Thursday. The company has a market cap of $19.64 billion and a P/E ratio of 588.12. Arxis has a 12 month low of $33.15 and a 12 month high of $61.50. The company has a current ratio of 5.21, a quick ratio of 3.79 and a debt-to-equity ratio of 0.38. The firm has a 50-day simple moving average of $52.90.

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

Institutional Trading of Arxis

A number of institutional investors have recently bought and sold shares of the stock. Moody National Bank Trust Division bought a new position in Arxis during the third quarter valued at $1,113,000. Envestnet Asset Management Inc. purchased a new stake in shares of Arxis in the second quarter valued at $1,206,000. State Street Corp bought a new stake in shares of Arxis in the 2nd quarter worth about $9,948,000. The Manufacturers Life Insurance Company purchased a new position in shares of Arxis during the 2nd quarter worth about $207,000. Finally, BlueCrest Capital Management Ltd bought a new position in Arxis during the 2nd quarter valued at about $7,389,000.

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.