Arconic Inc (ARNC) Receives $26.63 Average Price Target from Analysts

Arconic Inc (NASDAQ:ARNC) has been given an average recommendation of “Buy” by the thirteen ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $26.63.

Several analysts recently commented on the stock. Deutsche Bank AG reissued a “buy” rating on shares of Arconic in a research note on Saturday, June 24th. Vetr raised shares of Arconic to a “buy” rating and set a $27.34 target price for the company in a research note on Thursday, June 22nd. J P Morgan Chase & Co raised shares of Arconic from a “neutral” rating to an “overweight” rating and cut their target price for the company from $30.00 to $29.00 in a research note on Monday, July 10th. Seaport Global Securities raised shares of Arconic from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, July 13th. Finally, BidaskClub raised shares of Arconic from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd.

ILLEGAL ACTIVITY NOTICE: “Arconic Inc (ARNC) Receives $26.63 Average Price Target from Analysts” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at https://ledgergazette.com/2017/10/09/arconic-inc-arnc-receives-26-63-average-price-target-from-analysts.html.

In other news, Director Elmer L. Doty purchased 6,000 shares of Arconic stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average price of $24.51 per share, for a total transaction of $147,060.00. Following the transaction, the director now owns 4,409 shares in the company, valued at $108,064.59. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James F. Albaugh purchased 5,000 shares of Arconic stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average price of $24.94 per share, with a total value of $124,700.00. Following the transaction, the director now owns 9,409 shares in the company, valued at approximately $234,660.46. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 26,000 shares of company stock valued at $640,310.

Several large investors have recently modified their holdings of the stock. Toronto Dominion Bank lifted its position in shares of Arconic by 24.6% in the 2nd quarter. Toronto Dominion Bank now owns 150,125 shares of the basic materials company’s stock valued at $3,399,000 after acquiring an additional 29,635 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Arconic by 15.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock valued at $506,000 after buying an additional 2,949 shares during the period. Verition Fund Management LLC acquired a new position in Arconic in the 2nd quarter valued at approximately $651,000. Robecosam AG increased its stake in Arconic by 19.0% in the 2nd quarter. Robecosam AG now owns 500,000 shares of the basic materials company’s stock valued at $11,410,000 after buying an additional 80,000 shares during the period. Finally, Bank of Nova Scotia increased its stake in Arconic by 311.4% in the 2nd quarter. Bank of Nova Scotia now owns 499,237 shares of the basic materials company’s stock valued at $11,308,000 after buying an additional 377,886 shares during the period.

Shares of Arconic (NASDAQ:ARNC) traded up 1.07% on Wednesday, hitting $27.39. 3,748,759 shares of the stock were exchanged. The firm’s 50-day moving average is $25.55 and its 200-day moving average is $25.85. The company’s market cap is $12.08 billion. Arconic has a one year low of $16.75 and a one year high of $30.69.

Arconic (NASDAQ:ARNC) last released its earnings results on Monday, July 24th. The basic materials company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.26 by $0.06. Arconic had a net margin of 6.50% and a return on equity of 14.01%. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.18 billion. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts forecast that Arconic will post $1.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, November 25th. Investors of record on Friday, November 3rd will be given a $0.06 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.2

Several analysts recently commented on the stock. Deutsche Bank AG reissued a “buy” rating on shares of Arconic in a research note on Saturday, June 24th. Vetr raised shares of Arconic to a “buy” rating and set a $27.34 target price for the company in a research note on Thursday, June 22nd. J P Morgan Chase & Co raised shares of Arconic from a “neutral” rating to an “overweight” rating and cut their target price for the company from $30.00 to $29.00 in a research note on Monday, July 10th. Seaport Global Securities raised shares of Arconic from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, July 13th. Finally, BidaskClub raised shares of Arconic from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd.

ILLEGAL ACTIVITY NOTICE: “Arconic Inc (ARNC) Receives $26.63 Average Price Target from Analysts” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at https://ledgergazette.com/2017/10/09/arconic-inc-arnc-receives-26-63-average-price-target-from-analysts.html.

In other news, Director Elmer L. Doty purchased 6,000 shares of Arconic stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average price of $24.51 per share, for a total transaction of $147,060.00. Following the transaction, the director now owns 4,409 shares in the company, valued at $108,064.59. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James F. Albaugh purchased 5,000 shares of Arconic stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average price of $24.94 per share, with a total value of $124,700.00. Following the transaction, the director now owns 9,409 shares in the company, valued at approximately $234,660.46. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 26,000 shares of company stock valued at $640,310.

Several large investors have recently modified their holdings of the stock. Toronto Dominion Bank lifted its position in shares of Arconic by 24.6% in the 2nd quarter. Toronto Dominion Bank now owns 150,125 shares of the basic materials company’s stock valued at $3,399,000 after acquiring an additional 29,635 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Arconic by 15.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock valued at $506,000 after buying an additional 2,949 shares during the period. Verition Fund Management LLC acquired a new position in Arconic in the 2nd quarter valued at approximately $651,000. Robecosam AG increased its stake in Arconic by 19.0% in the 2nd quarter. Robecosam AG now owns 500,000 shares of the basic materials company’s stock valued at $11,410,000 after buying an additional 80,000 shares during the period. Finally, Bank of Nova Scotia increased its stake in Arconic by 311.4% in the 2nd quarter. Bank of Nova Scotia now owns 499,237 shares of the basic materials company’s stock valued at $11,308,000 after buying an additional 377,886 shares during the period.

Shares of Arconic (NASDAQ:ARNC) traded up 1.07% on Wednesday, hitting $27.39. 3,748,759 shares of the stock were exchanged. The firm’s 50-day moving average is $25.55 and its 200-day moving average is $25.85. The company’s market cap is $12.08 billion. Arconic has a one year low of $16.75 and a one year high of $30.69.

Arconic (NASDAQ:ARNC) last released its earnings results on Monday, July 24th. The basic materials company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.26 by $0.06. Arconic had a net margin of 6.50% and a return on equity of 14.01%. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.18 billion. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts forecast that Arconic will post $1.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, November 25th. Investors of record on Friday, November 3rd will be given a $0.06 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.24 annualized dividend and a dividend yield of 0.88%.

About Arconic

Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.

Analyst Recommendations for Arconic (NASDAQ:ARNC)

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