Brokerages Set Accelerant Holdings (NYSE:ARX) Target Price at $18.50

Shares of Accelerant Holdings (NYSE:ARX) have been given an average rating of “Moderate Buy” by the thirteen analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.50.

ARX has been the subject of several research reports. Piper Sandler cut their price target on Accelerant from $18.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, February 23rd. Raymond James Financial reaffirmed an “outperform” rating and set a $13.00 price target on shares of Accelerant in a report on Tuesday, February 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Accelerant in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Accelerant in a report on Monday, December 22nd. Finally, Morgan Stanley cut their price target on Accelerant from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Monday, April 6th.

Insider Transactions at Accelerant

In other Accelerant news, CFO Jay Michael Green sold 50,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $12.77, for a total transaction of $638,500.00. Following the completion of the sale, the chief financial officer owned 1,175,589 shares of the company’s stock, valued at $15,012,271.53. This trade represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Accelerant

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Accelerant during the 3rd quarter valued at $40,000. PNC Financial Services Group Inc. acquired a new stake in shares of Accelerant during the third quarter worth $42,000. CWM LLC acquired a new stake in shares of Accelerant during the fourth quarter worth $109,000. Jefferies Financial Group Inc. acquired a new stake in shares of Accelerant during the third quarter worth $149,000. Finally, Legal & General Group Plc acquired a new stake in shares of Accelerant during the third quarter worth $149,000.

Accelerant Stock Performance

Shares of NYSE:ARX opened at $12.78 on Thursday. The stock has a market capitalization of $2.84 billion and a P/E ratio of -1.85. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. Accelerant has a 1-year low of $9.18 and a 1-year high of $31.18. The business has a 50-day moving average price of $11.77 and a two-hundred day moving average price of $13.49.

Accelerant (NYSE:ARX) last released its quarterly earnings data on Wednesday, March 18th. The technology company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $248.40 million during the quarter. Accelerant had a positive return on equity of 67.99% and a negative net margin of 148.33%.Accelerant’s revenue was up 30.3% on a year-over-year basis.

About Accelerant

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.