Analysts Set Accelerant Holdings (NYSE:ARX) Price Target at $18.60

Shares of Accelerant Holdings (NYSE:ARX) have received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. One investment 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 12 month price target among brokerages that have covered the stock in the last year is $18.60.

Several brokerages recently weighed in on ARX. TD Cowen cut their target price on Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. UBS Group set a $16.00 price target on Accelerant in a research report on Thursday, May 21st. Raymond James Financial upped their price target on Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Piper Sandler raised their price objective on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, Morgan Stanley reduced their price objective on Accelerant from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, July 6th.

Insider Activity at Accelerant

In other Accelerant news, Director Nancy Hasley sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $13.11, for a total transaction of $458,850.00. Following the completion of the sale, the director directly owned 1,362,323 shares in the company, valued at $17,860,054.53. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeffrey L. Radke sold 80,000 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $13.18, for a total transaction 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 575,500 shares of company stock worth $7,552,184. Company insiders own 66.59% of the company’s stock.

Hedge Funds Weigh In On Accelerant

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming acquired a new stake in Accelerant in the 1st quarter valued at $28,000. Quarry LP purchased a new position in Accelerant in the third quarter valued at about $40,000. PNC Financial Services Group Inc. purchased a new position in Accelerant in the third quarter valued at about $42,000. CWM LLC acquired a new position in shares of Accelerant during the fourth quarter worth about $109,000. Finally, Royal Bank of Canada lifted its stake in shares of Accelerant by 50.3% during the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after purchasing an additional 2,585 shares in the last quarter.

Accelerant Stock Performance

Shares of ARX stock opened at $13.57 on Friday. Accelerant has a one year low of $9.18 and a one year high of $31.18. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. The company has a 50 day moving average price of $14.17 and a 200 day moving average price of $13.43. The firm has a market capitalization of $2.96 billion and a price-to-earnings ratio of -1.95.

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

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.