Arxis (NASDAQ:ARXS) Issues Quarterly Earnings Results

Arxis (NASDAQ:ARXS) posted its quarterly earnings results on Wednesday. The company reported $999.00 earnings per share (EPS) for the quarter, Zacks reports.

Arxis Stock Up 17.8%

ARXS stock opened at $46.83 on Friday. Arxis has a 1 year low of $33.15 and a 1 year high of $46.86.

Insider Buying and Selling

In related news, insider Ross Bradley Sealfon purchased 12,500 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was bought at an average cost of $28.00 per share, with a total value of $350,000.00. Following the completion of the purchase, the insider directly owned 1,102,807 shares in the company, valued at approximately $30,878,596. This represents a 1.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason Aaron Roth purchased 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was bought at an average cost of $28.00 per share, with a total value of $1,680,000.00. Following the completion of the purchase, the insider owned 395,515 shares of the company’s stock, valued at $11,074,420. This represents a 17.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 201,564 shares of company stock valued at $5,643,792 over the last quarter.

Wall Street Analyst Weigh In

ARXS has been the subject of several recent analyst reports. Zacks Research raised shares of Arxis to a “hold” rating in a research note on Tuesday, May 12th. Morgan Stanley initiated coverage on shares of Arxis in a research note on Monday, May 11th. They set an “overweight” rating and a $44.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Arxis in a research note on Monday, May 11th. They set a “buy” rating and a $42.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Arxis in a research note on Monday, May 11th. They set a “buy” rating and a $53.00 price objective for the company. Finally, UBS Group set a $53.00 price objective on shares of Arxis in a research note on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Arxis has an average rating of “Moderate Buy” and an average price target of $45.27.

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.