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

Arconic Inc (NASDAQ:ARNC) has earned a consensus rating of “Hold” from the six ratings firms that are covering the company. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $22.40.

Several analysts have recently commented on ARNC shares. Zacks Investment Research upgraded shares of Arconic from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, January 24th. Argus upgraded shares of Arconic from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Thursday, December 8th. Finally, TheStreet upgraded shares of Arconic from a “d+” rating to a “c” rating in a research note on Friday, January 13th.

In related news, major shareholder Associates L.P. Elliott purchased 72,000 shares of the business’s stock in a transaction dated Friday, February 3rd. The stock was acquired at an average price of $25.57 per share, for a total transaction of $1,841,040.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder International L.P. Elliott purchased 544,000 shares of the business’s stock in a transaction dated Tuesday, January 24th. The stock was bought at an average price of $21.61 per share, with a total value of $11,755,840.00. The disclosure for this purchase can be found here. Insiders bought a total of 2,941,001 shares of company stock valued at $79,150,049 in the last quarter.

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Arconic (NASDAQ:ARNC) opened at 27.87 on Tuesday. The company’s 50-day moving average is $27.55 and its 200-day moving average is $22.46. Arconic has a 52-week low of $16.75 and a 52-week high of $30.69. The firm’s market capitalization is $12.28 billion.

Arconic (NASDAQ:ARNC) last released its earnings results on Tuesday, January 31st. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the business earned $0.04 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts predict that Arconic will post $1.10 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Stockholders of record on Friday, May 5th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Wednesday, May 3rd.

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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