Arconic Inc. (NYSE:ARNC) has been given an average rating of “Buy” by the eleven research firms that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $29.75.
ARNC has been the topic of several research reports. BidaskClub raised shares of Arconic from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Seaport Global Securities restated a “buy” rating and set a $29.00 target price (up from $27.00) on shares of Arconic in a research note on Tuesday, September 26th. Vetr lowered shares of Arconic from a “strong-buy” rating to a “hold” rating and set a $27.98 target price on the stock. in a research note on Monday, October 9th. Zacks Investment Research lowered shares of Arconic from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Finally, Cowen restated a “hold” rating and set a $25.00 target price on shares of Arconic in a research note on Thursday, October 19th.
Institutional investors have recently made changes to their positions in the business. First Allied Advisory Services Inc. boosted its holdings in shares of Arconic by 1.7% in the second quarter. First Allied Advisory Services Inc. now owns 18,249 shares of the basic materials company’s stock valued at $418,000 after acquiring an additional 307 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of Arconic by 3.7% during the second quarter. Riverhead Capital Management LLC now owns 18,058 shares of the basic materials company’s stock worth $409,000 after purchasing an additional 641 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Arconic by 8.4% during the second quarter. Pacer Advisors Inc. now owns 9,707 shares of the basic materials company’s stock worth $220,000 after purchasing an additional 751 shares during the period. Flinton Capital Management LLC lifted its holdings in shares of Arconic by 3.5% during the second quarter. Flinton Capital Management LLC now owns 24,174 shares of the basic materials company’s stock worth $548,000 after purchasing an additional 816 shares during the period. Finally, Capstone Investment Advisors Netherlands B.V. lifted its holdings in shares of Arconic by 47.9% during the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,950 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 1,604 shares during the period. Institutional investors own 74.62% of the company’s stock.
Shares of Arconic (ARNC) traded up $0.61 on Friday, hitting $30.40. 3,113,300 shares of the stock traded hands, compared to its average volume of 3,832,363. The firm has a market capitalization of $14,810.00, a PE ratio of -14.14 and a beta of 0.85. Arconic has a 1-year low of $20.50 and a 1-year high of $30.69. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.30 and a quick ratio of 1.38.
Arconic (NYSE:ARNC) last issued its quarterly earnings results on Monday, October 23rd. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.09 billion. Arconic had a positive return on equity of 9.71% and a negative net margin of 4.70%. Arconic’s revenue was up 3.1% compared to the same quarter last year. equities research analysts forecast that Arconic will post 1.17 EPS for the current year.
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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.
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