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

Shares of Accelerant Holdings (NYSE:ARX) have been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $18.90.

Several equities analysts have weighed in on ARX shares. TD Cowen decreased their target price on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Raymond James Financial boosted their target price on shares of Accelerant from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Citizens Jmp decreased their target price on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a report on Monday, April 13th. BMO Capital Markets boosted their target price on shares of Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, June 16th. Finally, Morgan Stanley boosted their target price on shares of Accelerant from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st.

Institutional Investors Weigh In On Accelerant

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tudor Investment Corp ET AL purchased a new stake in shares of Accelerant in the 3rd quarter valued at approximately $1,075,000. UBS Group AG raised its stake in shares of Accelerant by 331.9% in the 4th quarter. UBS Group AG now owns 535,637 shares of the technology company’s stock valued at $8,758,000 after acquiring an additional 411,612 shares during the period. Yorktown Management & Research Co Inc purchased a new stake in Accelerant during the 4th quarter worth approximately $970,000. Jefferies Financial Group Inc. increased its stake in Accelerant by 349.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company’s stock worth $735,000 after buying an additional 34,980 shares during the period. Finally, Azora Capital LP increased its stake in Accelerant by 288.9% during the 4th quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock worth $39,879,000 after buying an additional 1,811,976 shares during the period.

Accelerant Stock Performance

NYSE:ARX opened at $12.93 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $2.82 billion and a price-to-earnings ratio of -1.86. The company’s 50-day moving average is $14.38 and its two-hundred day moving average is $13.80. Accelerant has a 1-year low of $9.18 and a 1-year high of $31.18.

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

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.