Arxis (NASDAQ:ARXS) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Arxis (NASDAQ:ARXS) had its price target hoisted by Royal Bank Of Canada from $46.00 to $50.00 in a report issued on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential downside of 8.32% from the company’s current price.

ARXS has been the subject of several other reports. Wall Street Zen upgraded Arxis to a “hold” rating in a research report on Saturday, May 2nd. Robert W. Baird initiated coverage on Arxis in a report on Monday, May 11th. They issued an “outperform” rating and a $55.00 price objective on the stock. Wolfe Research began 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. Citigroup reiterated a “buy” rating on shares of Arxis in a research report on Friday. Finally, The Goldman Sachs Group assumed coverage on shares of Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $53.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Arxis currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Arxis Trading Up 11.4%

ARXS stock traded up $5.56 during trading on Friday, hitting $54.54. The stock had a trading volume of 922,324 shares, compared to its average volume of 1,145,949. Arxis has a twelve month low of $33.15 and a twelve month high of $55.24. The business’s 50-day moving average price is $42.65.

Arxis (NASDAQ:ARXS) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.35. The firm had revenue of $500.73 million for the quarter. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year.

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.