Arxis (NASDAQ:ARXS) Upgraded to Hold at Zacks Research

Arxis (NASDAQ:ARXS) was upgraded by analysts at Zacks Research to a “hold” rating in a report released on Tuesday,Zacks.com reports.

ARXS has been the topic of a number of other research reports. Royal Bank Of Canada assumed coverage on Arxis in a research note on Monday. They issued a “sector perform” rating and a $39.00 price target on the stock. Robert W. Baird assumed coverage on Arxis in a research note on Monday. They issued an “outperform” rating and a $55.00 price target on the stock. UBS Group set a $53.00 price target on Arxis in a research note on Monday. The Goldman Sachs Group assumed coverage on Arxis in a research note on Monday. They issued a “buy” rating and a $53.00 price target on the stock. Finally, Citigroup assumed coverage on Arxis in a research note on Monday. They issued a “buy” rating and a $42.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Arxis presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.27.

Arxis Price Performance

NASDAQ:ARXS opened at $35.40 on Tuesday. Arxis has a 52-week low of $34.44 and a 52-week high of $39.45.

Insider Transactions at Arxis

In related news, insider Ross Bradley Sealfon purchased 12,500 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were purchased at an average price of $28.00 per share, with a total value of $350,000.00. Following the purchase, the insider owned 1,102,807 shares of the company’s stock, valued at $30,878,596. This trade represents a 1.15% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Azad Sid Badakhsh purchased 36,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was bought at an average cost of $28.00 per share, for a total transaction of $1,008,000.00. Following the purchase, the insider directly owned 403,864 shares in the company, valued at $11,308,192. This represents a 9.79% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 201,564 shares of company stock worth $5,643,792 in the last three months.

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.