Arconic Inc. (ARNC) Receives Average Recommendation of “Hold” from Analysts

Shares of Arconic Inc. (NYSE:ARNC) have received a consensus recommendation of “Hold” from the ten analysts that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $29.00.

Several brokerages have weighed in on ARNC. Cowen reaffirmed a “hold” rating and set a $25.00 target price on shares of Arconic in a research note on Tuesday, October 31st. Zacks Investment Research lowered shares of Arconic from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Vetr raised shares of Arconic from a “hold” rating to a “buy” rating and set a $27.97 target price for the company in a research note on Tuesday, October 17th. Seaport Global Securities reaffirmed a “buy” rating and set a $29.00 target price (up previously from $27.00) on shares of Arconic in a research note on Tuesday, September 26th. Finally, Longbow Research raised shares of Arconic from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Tuesday, August 22nd.

A number of hedge funds have recently made changes to their positions in ARNC. Parametric Portfolio Associates LLC boosted its stake in shares of Arconic by 4.6% in the third quarter. Parametric Portfolio Associates LLC now owns 603,868 shares of the basic materials company’s stock valued at $15,024,000 after purchasing an additional 26,814 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Arconic by 29.5% in the third quarter. Janney Montgomery Scott LLC now owns 112,514 shares of the basic materials company’s stock valued at $2,799,000 after purchasing an additional 25,619 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of Arconic by 7.5% in the third quarter. Cubist Systematic Strategies LLC now owns 121,200 shares of the basic materials company’s stock valued at $3,015,000 after purchasing an additional 8,501 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Arconic by 74.5% in the third quarter. Janus Henderson Group PLC now owns 143,645 shares of the basic materials company’s stock valued at $3,574,000 after purchasing an additional 61,340 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Arconic by 109.1% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 158,827 shares of the basic materials company’s stock valued at $3,951,000 after purchasing an additional 82,872 shares during the period. 74.71% of the stock is owned by institutional investors.

Shares of Arconic (NYSE:ARNC) traded up $0.31 on Monday, hitting $25.61. 1,590,000 shares of the company were exchanged, compared to its average volume of 3,190,000. 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 has a 12-month low of $18.47 and a 12-month high of $30.69. The stock has a market capitalization of $12,330.00, a price-to-earnings ratio of 24.80 and a beta of 0.85.

Arconic (NYSE:ARNC) last announced its quarterly earnings data on Monday, October 23rd. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.02). The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Arconic had a negative net margin of 4.70% and a positive return on equity of 9.71%. Arconic’s quarterly revenue was up 3.1% compared to the same quarter last year. equities analysts anticipate that Arconic will post 1.16 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, November 25th. Shareholders of record on Friday, November 3rd were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Thursday, November 2nd. Arconic’s dividend payout ratio (DPR) is presently -11.16%.

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Arconic Company Profile

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 (NYSE:ARNC)

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