Accelerant Holdings (NYSE:ARX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Accelerant Holdings (NYSE:ARX) have been assigned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $18.60.

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their target price on Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, July 6th. Citizens Jmp cut their price target on Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a report on Monday, April 13th. Piper Sandler raised their price objective on shares of Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Weiss Ratings upgraded shares of Accelerant from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Finally, Raymond James Financial increased their target price on shares of Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st.

Accelerant Stock Performance

Shares of Accelerant stock opened at $13.57 on Friday. The business has a 50-day moving average price of $14.16 and a two-hundred day moving average price of $13.47. Accelerant has a 1-year low of $9.18 and a 1-year high of $31.18. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.96 billion and a P/E ratio of -1.95.

Accelerant (NYSE:ARX) last announced its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The company had revenue of $273.20 million for the quarter. Accelerant’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, analysts anticipate that Accelerant will post 0.73 EPS for the current year.

Insider Activity

In related news, CEO Jeffrey L. Radke sold 80,000 shares of the business’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $13.18, for a total value of $1,054,400.00. Following the completion of the sale, the chief executive officer directly owned 27,941,939 shares of the company’s stock, valued at $368,274,756.02. The trade was a 0.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy Hasley sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total value of $458,850.00. Following the transaction, the director directly owned 1,362,323 shares in the company, valued at approximately $17,860,054.53. This trade represents a 2.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 575,500 shares of company stock worth $7,552,184. Company insiders own 66.59% of the company’s stock.

Institutional Investors Weigh In On Accelerant

Several hedge funds and other institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas increased its stake in Accelerant by 0.6% during the 4th quarter. Teacher Retirement System of Texas now owns 176,043 shares of the technology company’s stock valued at $2,878,000 after purchasing an additional 1,043 shares in the last quarter. State of Wyoming bought a new position in shares of Accelerant in the first quarter valued at $28,000. Royal Bank of Canada lifted its stake in shares of Accelerant by 50.3% in the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock valued at $103,000 after buying an additional 2,585 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Accelerant by 73.6% during the first quarter. PNC Financial Services Group Inc. now owns 6,157 shares of the technology company’s stock valued at $82,000 after buying an additional 2,611 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Accelerant during the third quarter valued at about $40,000.

Accelerant Company Profile

Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company’s solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.