Arconic (NYSE:ARNC) PT Lowered to $34.00 at Deutsche Bank Aktiengesellschaft

Arconic (NYSE:ARNCGet Rating) had its price target cut by Deutsche Bank Aktiengesellschaft from $40.00 to $34.00 in a research note issued on Thursday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 22.48% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Arconic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 26th. StockNews.com started coverage on shares of Arconic in a report on Thursday, March 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.80.

ARNC opened at $27.76 on Thursday. Arconic has a 1 year low of $22.45 and a 1 year high of $38.49. The stock has a fifty day moving average price of $25.87 and a 200 day moving average price of $29.56. The company has a current ratio of 1.54, a quick ratio of 0.75 and a debt-to-equity ratio of 1.02. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -7.48 and a beta of 1.98.

Arconic (NYSE:ARNCGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.04). The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.30 billion. Arconic had a negative net margin of 5.29% and a positive return on equity of 5.82%. The firm’s revenue was up 30.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 earnings per share. As a group, sell-side analysts forecast that Arconic will post 2.51 earnings per share for the current fiscal year.

In other news, EVP Melissa M. Miller purchased 3,800 shares of the stock in a transaction on Monday, March 7th. The shares were acquired at an average price of $26.00 per share, with a total value of $98,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.79% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in Arconic by 4.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,477 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 339 shares during the period. CIBC Asset Management Inc lifted its position in shares of Arconic by 5.3% during the third quarter. CIBC Asset Management Inc now owns 7,651 shares of the basic materials company’s stock worth $241,000 after purchasing an additional 382 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Arconic by 4.8% during the third quarter. Mutual of America Capital Management LLC now owns 14,586 shares of the basic materials company’s stock valued at $460,000 after purchasing an additional 664 shares during the period. Swiss National Bank grew its holdings in shares of Arconic by 0.3% in the third quarter. Swiss National Bank now owns 231,000 shares of the basic materials company’s stock worth $7,286,000 after purchasing an additional 700 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in Arconic by 0.5% in the 4th quarter. New York State Teachers Retirement System now owns 137,684 shares of the basic materials company’s stock worth $4,545,000 after buying an additional 700 shares during the period. 90.38% of the stock is owned by hedge funds and other institutional investors.

About Arconic (Get Rating)

Arconic Corporation manufactures and sells aluminum sheets, plates, extrusions, and architectural products in the United States, Canada, China, France, Germany, Hungary, Russia, the United Kingdom, and internationally. It operates through three segments: Rolled Products, Building and Construction Systems, and Extrusions.

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