Arxis (NASDAQ:ARXS) Rating Increased to Strong-Buy at Jefferies Financial Group

Arxis (NASDAQ:ARXS) was upgraded by equities researchers at Jefferies Financial Group to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Morgan Stanley began coverage on shares of Arxis in a report on Monday. They issued an “overweight” rating and a $44.00 price target on the stock. Melius Research started coverage on shares of Arxis in a report on Monday. They set a “buy” rating and a $45.00 target price on the stock. Wall Street Zen raised Arxis to a “hold” rating in a research report on Saturday, May 2nd. Wells Fargo & Company initiated coverage on Arxis in a research report on Monday. They issued an “overweight” rating and a $42.00 target price for the company. Finally, William Blair initiated coverage on Arxis in a research report on Monday. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $45.27.

Arxis Stock Performance

ARXS stock opened at $38.56 on Monday. Arxis has a one year low of $34.44 and a one year high of $39.45.

Insider Buying and Selling

In other news, Director Patrick E. Allen purchased 10,000 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were purchased at an average price of $28.00 per share, for a total transaction of $280,000.00. Following the completion of the purchase, the director owned 15,357 shares in the company, valued at approximately $429,996. This represents a 186.67% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ross Bradley Sealfon bought 12,500 shares of the business’s stock in a transaction on Friday, April 17th. The stock was bought at an average price of $28.00 per share, for a total transaction of $350,000.00. Following the purchase, the insider directly owned 1,102,807 shares of the company’s stock, valued at $30,878,596. The trade was a 1.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 201,564 shares of company stock valued at $5,643,792 over the last 90 days.

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.