Arxis (NASDAQ:ARXS) Upgraded to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Arxis (NASDAQ:ARXS) to a strong-buy rating in a report released on Monday,Zacks.com reports.

Several other brokerages have also commented on ARXS. Rothschild & Co Redburn assumed coverage on Arxis in a research report on Monday. They issued a “buy” rating and a $40.00 target price for the company. Wolfe Research assumed coverage on Arxis in a research report on Monday. They issued an “outperform” rating and a $43.00 target price for the company. UBS Group set a $53.00 target price on Arxis in a research report on Monday. William Blair assumed coverage on Arxis in a research report on Monday. They issued an “outperform” rating for the company. Finally, Jefferies Financial Group assumed coverage on Arxis in a research report on Monday. They issued a “buy” rating and a $42.00 target price for the company. Five analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $45.27.

Arxis Price Performance

Shares of NASDAQ ARXS opened at $38.56 on Monday. Arxis has a fifty-two week low of $34.44 and a fifty-two week high of $39.45.

Insiders Place Their Bets

In related news, Director Stephen Duane Oetgen purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were acquired at an average price of $28.00 per share, with a total value of $700,000.00. Following the acquisition, the director owned 30,357 shares in the company, valued at approximately $849,996. This trade represents a 466.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Aaron Roth purchased 60,000 shares of the business’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 $1,680,000.00. Following the acquisition, the insider owned 395,515 shares in the company, valued at approximately $11,074,420. The trade was a 17.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 201,564 shares of company stock worth $5,643,792.

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.