Arconic Co. (NYSE:ARNC) Given Consensus Recommendation of “Hold” by Analysts

Arconic Co. (NYSE:ARNC – Get Rating) has received an average recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $38.75.

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Arconic from $40.00 to $34.00 in a research note on Thursday, May 5th. Zacks Investment Research cut shares of Arconic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 26th. Finally, StockNews.com assumed coverage on shares of Arconic in a research note on Thursday, March 31st. They issued a “hold” rating on the stock.

Shares of Arconic stock opened at $28.04 on Friday. The company has a market capitalization of $2.97 billion, a P/E ratio of -7.56 and a beta of 1.98. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.66 and a current ratio of 1.45. The company has a fifty day moving average of $26.26 and a 200 day moving average of $29.17. Arconic has a fifty-two week low of $22.45 and a fifty-two week high of $38.49.

Arconic (NYSE:ARNC – Get Rating) last issued its earnings results on Tuesday, May 3rd. The basic materials company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.30 billion. Arconic had a positive return on equity of 5.12% and a negative net margin of 5.07%. The company’s quarterly revenue was up 30.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 EPS. Analysts forecast that Arconic will post 2.53 EPS for the current year.

In other Arconic news, EVP Melissa M. Miller bought 3,800 shares of the firm’s stock in a transaction dated Monday, March 7th. The shares were purchased at an average cost of $26.00 per share, for a total transaction of $98,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.79% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of ARNC. National Bank of Canada FI purchased a new stake in Arconic in the 4th quarter worth about $26,000. Tompkins Financial Corp purchased a new stake in Arconic in the 1st quarter worth about $39,000. Quent Capital LLC purchased a new stake in Arconic in the 4th quarter worth about $41,000. EverSource Wealth Advisors LLC purchased a new stake in Arconic in the 4th quarter worth about $41,000. Finally, Allegheny Financial Group LTD purchased a new stake in Arconic in the 4th quarter worth about $63,000. 90.38% of the stock is currently owned by 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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