Arconic Inc (ARNC) Given Average Rating of “Hold” by Analysts

Shares of Arconic Inc (NYSE:ARNC) have been given an average rating of “Hold” by the fourteen analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $23.75.

Several research analysts have weighed in on ARNC shares. Jefferies Financial Group started coverage on Arconic in a research report on Monday, July 16th. They set a “buy” rating and a $23.00 price objective on the stock. Seaport Global Securities reiterated a “buy” rating on shares of Arconic in a research report on Wednesday, July 18th. Zacks Investment Research upgraded Arconic from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Friday, August 3rd. TheStreet upgraded Arconic from a “d+” rating to a “c-” rating in a research report on Monday, October 15th. Finally, Cowen reiterated a “hold” rating and set a $15.00 price objective on shares of Arconic in a research report on Tuesday, July 31st.

Arconic stock traded down $0.10 during mid-day trading on Thursday, hitting $21.04. 307,061 shares of the company’s stock traded hands, compared to its average volume of 4,746,186. Arconic has a fifty-two week low of $16.47 and a fifty-two week high of $31.17. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 0.80 and a beta of 1.22. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.03 and a quick ratio of 1.16.

Arconic (NYSE:ARNC) last announced its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. Arconic had a positive return on equity of 12.94% and a negative net margin of 2.19%. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities analysts anticipate that Arconic will post 1.31 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, November 25th. Investors of record on Friday, November 2nd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, November 1st. Arconic’s payout ratio is currently 19.67%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Arconic by 4.7% in the second quarter. BlackRock Inc. now owns 35,321,536 shares of the basic materials company’s stock worth $600,819,000 after purchasing an additional 1,585,480 shares during the period. Canyon Capital Advisors LLC boosted its stake in Arconic by 0.4% in the second quarter. Canyon Capital Advisors LLC now owns 7,208,100 shares of the basic materials company’s stock valued at $122,610,000 after buying an additional 30,100 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Arconic by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,665,633 shares of the basic materials company’s stock valued at $96,370,000 after buying an additional 417,504 shares in the last quarter. Fairpointe Capital LLC boosted its stake in Arconic by 9.0% in the second quarter. Fairpointe Capital LLC now owns 4,720,095 shares of the basic materials company’s stock valued at $80,289,000 after buying an additional 388,647 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Arconic by 30.1% in the first quarter. Allianz Asset Management GmbH now owns 2,416,570 shares of the basic materials company’s stock valued at $55,678,000 after buying an additional 559,644 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

About Arconic

Arconic Inc engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. It operates through three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions produces and sells fastening systems and seamless rolled rings; investment castings, including airfoils and forged jet engine components; and extruded, machined, and formed aircraft parts, as well as various forged, extruded, and machined metal products.

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Analyst Recommendations for Arconic (NYSE:ARNC)

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