Analysts Set Arconic Inc (NYSE:ARNC) Price Target at $27.67

Shares of Arconic Inc (NYSE:ARNC) have been given a consensus rating of “Hold” by the fourteen research firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $27.67.

ARNC has been the topic of a number of recent research reports. Argus raised Arconic from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Tuesday, February 18th. Benchmark initiated coverage on Arconic in a report on Thursday, January 16th. They set a “hold” rating on the stock. Cowen initiated coverage on Arconic in a report on Monday, January 27th. They set a “buy” rating and a $33.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Arconic from $30.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Longbow Research downgraded Arconic from a “neutral” rating to an “underperform” rating and set a $24.00 price objective on the stock. in a report on Wednesday, January 22nd.

Shares of ARNC traded up $1.02 during midday trading on Friday, reaching $16.17. 8,254,927 shares of the stock were exchanged, compared to its average volume of 4,935,007. Arconic has a twelve month low of $11.38 and a twelve month high of $34.27. The company has a quick ratio of 0.83, a current ratio of 1.42 and a debt-to-equity ratio of 1.07. The company has a market cap of $6.80 billion, a P/E ratio of 15.70 and a beta of 1.47. The stock’s 50 day simple moving average is $26.58 and its 200 day simple moving average is $28.38.

Arconic (NYSE:ARNC) last announced its earnings results on Monday, January 27th. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). Arconic had a net margin of 3.31% and a return on equity of 20.28%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same period last year, the business posted $0.33 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, analysts predict that Arconic will post 1.5 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.08 dividend on an annualized basis and a yield of 0.49%. Arconic’s dividend payout ratio is currently 3.79%.

In other Arconic news, EVP Katherine H. Ramundo sold 32,733 shares of Arconic stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $30.57, for a total transaction of $1,000,647.81. Following the completion of the sale, the executive vice president now owns 123,209 shares of the company’s stock, valued at approximately $3,766,499.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ARNC. Credit Suisse AG grew its position in shares of Arconic by 1.6% in the fourth quarter. Credit Suisse AG now owns 7,202,926 shares of the basic materials company’s stock valued at $221,633,000 after purchasing an additional 109,998 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Arconic by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 7,059,305 shares of the basic materials company’s stock valued at $216,831,000 after acquiring an additional 70,916 shares in the last quarter. Norges Bank acquired a new stake in shares of Arconic in the fourth quarter valued at $136,638,000. LSV Asset Management raised its stake in shares of Arconic by 12.2% in the fourth quarter. LSV Asset Management now owns 3,674,615 shares of the basic materials company’s stock valued at $113,067,000 after acquiring an additional 399,815 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Arconic by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,661,006 shares of the basic materials company’s stock valued at $81,880,000 after buying an additional 95,508 shares during the last quarter. 83.89% of the stock is owned by institutional investors.

About Arconic

Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions segment produces and sells fastening systems and seamless rolled rings; investment castings, including airfoils and forged jet engine components; and extruded, machined, and formed aircraft parts for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.

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Analyst Recommendations for Arconic (NYSE:ARNC)

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