Arconic (ARNC) Receives “Buy” Rating from Seaport Global Securities

Seaport Global Securities reiterated their buy rating on shares of Arconic (NYSE:ARNC) in a report published on Tuesday morning. The brokerage currently has a $32.00 target price on the basic materials company’s stock. Seaport Global Securities also issued estimates for Arconic’s Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.50 EPS, Q1 2019 earnings at $0.42 EPS, Q2 2019 earnings at $0.45 EPS, Q3 2019 earnings at $0.49 EPS, Q4 2019 earnings at $0.47 EPS and FY2019 earnings at $1.82 EPS.

A number of other equities analysts have also recently commented on the company. Cowen reaffirmed a hold rating and issued a $25.00 target price on shares of Arconic in a report on Thursday, February 1st. Wells Fargo & Co assumed coverage on Arconic in a report on Thursday, January 4th. They issued an outperform rating and a $35.00 target price on the stock. Zacks Investment Research raised Arconic from a sell rating to a hold rating in a report on Tuesday, December 26th. Deutsche Bank set a $31.00 target price on Arconic and gave the stock a buy rating in a report on Tuesday, October 24th. Finally, Morgan Stanley reaffirmed a hold rating and issued a $27.00 target price on shares of Arconic in a report on Tuesday, October 24th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Arconic currently has an average rating of Buy and an average price target of $29.77.

Arconic (NYSE ARNC) opened at $24.66 on Tuesday. Arconic has a twelve month low of $21.75 and a twelve month high of $31.17. The company has a market capitalization of $11,870.00, a price-to-earnings ratio of -94.85, a P/E/G ratio of 0.84 and a beta of 0.93. The company has a quick ratio of 1.38, a current ratio of 2.26 and a debt-to-equity ratio of 1.40.

Arconic (NYSE:ARNC) last announced its earnings results on Monday, February 5th. The basic materials company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.07. Arconic had a positive return on equity of 11.29% and a negative net margin of 0.57%. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the firm earned $0.12 EPS. Arconic’s revenue for the quarter was up 10.2% compared to the same quarter last year. analysts anticipate that Arconic will post 1.5 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, February 25th. Shareholders of record on Friday, February 2nd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $0.24 dividend on an annualized basis and a yield of 0.97%. Arconic’s dividend payout ratio is presently -92.31%.

In other Arconic news, Director David P. Hess purchased 40,300 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were acquired at an average cost of $24.80 per share, with a total value of $999,440.00. Following the completion of the acquisition, the director now directly owns 127,870 shares in the company, valued at $3,171,176. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.12% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Huntington National Bank purchased a new position in shares of Arconic during the third quarter valued at about $132,000. Fox Run Management L.L.C. purchased a new position in shares of Arconic during the fourth quarter valued at about $205,000. National Planning Corp purchased a new position in shares of Arconic during the third quarter valued at about $206,000. Pitcairn Co. purchased a new position in shares of Arconic during the third quarter valued at about $209,000. Finally, UMB Bank N A MO purchased a new position in shares of Arconic during the fourth quarter valued at about $212,000. 74.58% of the stock is currently owned by institutional investors and hedge funds.

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About Arconic

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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