Accelerant (NYSE:ARX) Price Target Cut to $17.00 by Analysts at Citizens Jmp

Accelerant (NYSE:ARX) had its price target trimmed by Citizens Jmp from $20.00 to $17.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a market outperform rating on the technology company’s stock.

A number of other brokerages also recently weighed in on ARX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Accelerant in a report on Monday, December 22nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Accelerant in a research note on Tuesday, February 17th. Morgan Stanley dropped their price target on shares of Accelerant from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. TD Cowen dropped their price target on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Finally, Wells Fargo & Company raised shares of Accelerant from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $17.00 to $15.00 in a research note on Friday, March 20th. Ten investment 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. According to MarketBeat.com, Accelerant has a consensus rating of “Moderate Buy” and a consensus price target of $18.17.

Accelerant Price Performance

Shares of NYSE:ARX opened at $12.86 on Monday. The company’s fifty day moving average is $11.76 and its two-hundred day moving average is $13.45. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.17. Accelerant has a 12-month low of $9.18 and a 12-month high of $31.18. The company has a market cap of $2.86 billion and a P/E ratio of -1.86.

Accelerant (NYSE:ARX) last announced its quarterly earnings data on Wednesday, March 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The firm 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 quarterly revenue was up 30.3% on a year-over-year basis.

Insider Transactions at Accelerant

In related news, CFO Jay Michael Green sold 50,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $12.77, for a total value of $638,500.00. Following the completion of the sale, the chief financial officer directly owned 1,175,589 shares in the company, valued at approximately $15,012,271.53. This represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 66.59% of the company’s stock.

Institutional Investors Weigh In On Accelerant

Large investors have recently bought and sold shares of the business. Quarry LP bought a new stake in Accelerant in the third quarter worth $40,000. PNC Financial Services Group Inc. bought a new stake in Accelerant in the third quarter worth $42,000. CWM LLC bought a new stake in Accelerant in the fourth quarter worth $109,000. Wesbanco Bank Inc. bought a new stake in Accelerant in the fourth quarter worth $164,000. Finally, Jefferies Financial Group Inc. bought a new stake in Accelerant in the third quarter worth $149,000.

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.