Arconic (ARNC) Hits New 12-Month High at $30.73

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.

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 analysts’ consensus estimates of $0.27 by ($0.02). Arconic had a negative net margin of 4.70% and a positive return on equity of 9.71%. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Arconic’s quarterly revenue was up 3.1% on a year-over-year basis. equities analysts anticipate that Arconic Inc. will post 1.15 EPS for the current fiscal year.

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.

ILLEGAL ACTIVITY NOTICE: “Arconic (ARNC) Hits New 12-Month High at $30.73” was first reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.com-unik.info/2018/01/14/arconic-arnc-hits-new-12-month-high-at-30-73.html.

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.

Receive News & Ratings for Arconic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arconic and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit