Arconic Inc. (NYSE:ARNC) reached a new 52-week high during trading on Friday . The stock traded as high as $30.73 and last traded at $30.40, with a volume of 3113300 shares traded. The stock had previously closed at $29.79.
ARNC has been the subject of several research analyst reports. Zacks Investment Research cut shares of Arconic from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Vetr cut shares of Arconic from a “strong-buy” rating to a “hold” rating and set a $27.98 target price for the company. in a research report on Monday, October 9th. Deutsche Bank set a $31.00 target price on shares of Arconic and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Cowen reaffirmed a “hold” rating and issued a $25.00 target price on shares of Arconic in a research report on Tuesday, October 31st. Finally, Morgan Stanley reaffirmed a “hold” rating and issued a $27.00 target price on shares of Arconic in a research report on Tuesday, October 24th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $29.44.
The stock has a market capitalization of $14,840.00, a PE ratio of -14.34, a PEG ratio of 4.13 and a beta of 0.85. The company has a current ratio of 2.30, a quick ratio of 1.38 and a debt-to-equity ratio of 1.15.
A number of hedge funds and other institutional investors have recently modified their holdings of ARNC. Capstone Investment Advisors Netherlands B.V. lifted its position in Arconic by 47.9% during the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,950 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 1,604 shares during the period. Huntington National Bank purchased a new position in Arconic during the 3rd quarter valued at about $132,000. National Planning Corp purchased a new position in Arconic during the 3rd quarter valued at about $206,000. Pitcairn Co. purchased a new position in Arconic during the 3rd quarter valued at about $209,000. Finally, BRYN MAWR TRUST Co purchased a new position in Arconic during the 2nd quarter valued at about $214,000. 74.62% of the stock is owned by institutional investors.
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.
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