Arconic (ARNC) – Research Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Arconic (NASDAQ: ARNC):

  • 10/31/2017 – Arconic had its “hold” rating reaffirmed by analysts at Cowen and Company. They now have a $25.00 price target on the stock.
  • 10/26/2017 – Arconic was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Arconic saw lower profits in the third quarter of 2017, hurt by sizable charges and weak performance of its GRP division. Adjusted earnings missed the Zacks Consensus Estimate while sales beat. Arconic has underperformed the industry it belongs to over a year. The company faces earnings headwinds stemming from hefty charges related to LIFO method of accounting. It is also exposed to pricing pressure in GRP and EPS segments and weakness in certain end-markets including the North American heavy-duty truck & trailer and industrial gas turbine. We are also concerned about its high balance sheet leverage.”
  • 10/24/2017 – Arconic was given a new $31.00 price target on by analysts at Deutsche Bank AG. They now have a “buy” rating on the stock.
  • 10/24/2017 – Arconic had its “hold” rating reaffirmed by analysts at Morgan Stanley. They now have a $27.00 price target on the stock.
  • 10/23/2017 – Arconic was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $27.97 price target on the stock.
  • 10/19/2017 – Arconic had its “hold” rating reaffirmed by analysts at Cowen and Company. They now have a $25.00 price target on the stock.
  • 10/17/2017 – Arconic was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $27.97 price target on the stock.
  • 10/12/2017 – Arconic was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Arconic has outperformed the industry it belongs to year to date. The company should gain from its cost-cutting and productivity actions in 2017. Arconic is also seeing strong demand trends in the automotive market.  The company is well placed to capture the growing demand for aluminum sheet stemming from the transition of the North American auto industry to lightweighting. Major contract wins in aerospace are also expected to support its results. However, Arconic faces pricing pressure and weakness in certain end-markets including the heavy-duty truck and trailer market in North America. We are also concerned about its high balance sheet leverage.”
  • 10/9/2017 – Arconic was downgraded by analysts at Vetr from a “strong-buy” rating to a “hold” rating. They now have a $27.98 price target on the stock.
  • 9/26/2017 – Arconic had its “buy” rating reaffirmed by analysts at Seaport Global Securities. They now have a $29.00 price target on the stock, up previously from $27.00.
  • 9/22/2017 – Arconic was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 9/12/2017 – Arconic was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $27.00 price target on the stock. According to Zacks, “Arconic has outperformed the industry it belongs to year to date. The company should gain from its cost-cutting and productivity actions in 2017. Arconic is also seeing strong demand trends in the automotive market.  The company is well placed to capture the growing demand for aluminum sheet stemming from the transition of the North American auto industry to lightweighting. Major contract wins in aerospace are also expected to support its results.”

Arconic (NASDAQ:ARNC) last released its quarterly earnings data on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Arconic had a return on equity of 7.07% and a net margin of 3.68%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.09 billion. The business’s revenue for the quarter was up 3.1% on a year-over-year basis.

The business also recently declared a quarterly dividend, which will be paid on Saturday, November 25th. Investors of record on Friday, November 3rd will be issued a $0.06 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.24 annualized dividend and a yield of 0.96%.

In related news, Director Elmer L. Doty purchased 6,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $24.51 per share, for a total transaction of $147,060.00. Following the acquisition, the director now owns 4,409 shares in the company, valued at $108,064.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James F. Albaugh purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was bought at an average price of $24.94 per share, with a total value of $124,700.00. Following the completion of the acquisition, 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. Over the last quarter, insiders purchased 26,000 shares of company stock valued at $640,310.

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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