Arxis (NASDAQ:ARXS) Price Target Raised to $67.00 at Citigroup

Arxis (NASDAQ:ARXS) had its price target upped by research analysts at Citigroup from $61.00 to $67.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 15.54% from the stock’s previous close.

A number of other research firms have also commented on ARXS. Morgan Stanley restated an “overweight” rating and issued a $62.00 price objective on shares of Arxis in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Arxis to a “hold” rating in a research report on Saturday, May 2nd. UBS Group set a $53.00 price objective on Arxis in a research report on Monday, May 11th. Jefferies Financial Group restated a “buy” rating and issued a $60.00 target price on shares of Arxis in a research note on Sunday, August 2nd. Finally, Robert W. Baird began coverage on Arxis in a report on Monday, May 11th. They issued an “outperform” rating and a $55.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Arxis currently has an average rating of “Moderate Buy” and a consensus target price of $53.73.

Arxis Price Performance

Shares of NASDAQ ARXS traded down $0.11 during mid-day trading on Thursday, reaching $57.99. 316,551 shares of the company’s stock were exchanged, compared to its average volume of 1,118,184. The firm has a market cap of $24.21 billion and a price-to-earnings ratio of 724.88. Arxis has a 52 week low of $33.15 and a 52 week high of $61.50. The company has a quick ratio of 3.79, a current ratio of 5.21 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $45.63.

Arxis (NASDAQ:ARXS) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.35. The company had revenue of $500.73 million for the quarter. Arxis’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, sell-side analysts forecast that Arxis will post 0.57 EPS for the current fiscal 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.