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

Accelerant Holdings (NYSE:ARX) has earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $18.85.

ARX has been the subject of a number of recent research reports. UBS Group set a $16.00 target price on shares of Accelerant in a report on Thursday, May 21st. Morgan Stanley lifted their price objective on shares of Accelerant from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Raymond James Financial reiterated an “outperform” rating and set a $13.00 price objective on shares of Accelerant in a research note on Tuesday, February 17th. TD Cowen decreased their target price on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Finally, Citizens Jmp lowered their target price on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a research note on Monday, April 13th.

Accelerant Trading Down 0.2%

Shares of NYSE:ARX opened at $16.31 on Friday. The company has a market capitalization of $3.56 billion and a PE ratio of -2.34. 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 12-month low of $9.18 and a 12-month high of $31.18. The business’s fifty day simple moving average is $13.98 and its 200-day simple moving average is $13.73.

Accelerant (NYSE:ARX) last issued its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, topping 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 firm had revenue of $273.20 million during the quarter. The business’s quarterly revenue was up 53.5% on a year-over-year basis. As a group, equities research analysts predict that Accelerant will post 0.71 earnings per share for the current fiscal year.

Insider Activity at Accelerant

In other news, CFO Jay Michael Green sold 50,000 shares of the 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 in the company, valued at approximately $15,012,271.53. This represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 66.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Security Benefit Life Insurance Co. KS purchased a new stake in Accelerant in the third quarter valued at about $80,797,000. Capital World Investors purchased a new stake in shares of Accelerant during the third quarter worth about $85,666,000. Barings LLC acquired a new position in shares of Accelerant during the third quarter valued at about $46,370,000. Alliancebernstein L.P. acquired a new position in shares of Accelerant during the third quarter valued at about $41,529,000. Finally, Vanguard Group Inc. purchased a new position in shares of Accelerant in the 3rd quarter valued at approximately $33,482,000.

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.