Arconic Inc (ARNC) Receives $24.90 Consensus Price Target from Analysts

Arconic Inc (NYSE:ARNC) has earned an average recommendation of “Hold” from the sixteen brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $24.90.

A number of brokerages recently weighed in on ARNC. TheStreet raised shares of Arconic from a “d+” rating to a “c-” rating in a research report on Monday. Zacks Investment Research raised shares of Arconic from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley set a $22.00 price target on shares of Arconic and gave the stock a “hold” rating in a research report on Wednesday, October 10th. Longbow Research cut shares of Arconic from a “buy” rating to a “neutral” rating in a research report on Monday, September 17th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Arconic from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th.

A number of hedge funds have recently modified their holdings of ARNC. Canyon Capital Advisors LLC lifted its holdings in Arconic by 91.3% in the 1st quarter. Canyon Capital Advisors LLC now owns 7,178,000 shares of the basic materials company’s stock worth $165,381,000 after buying an additional 3,425,137 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Arconic by 460.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,247,400 shares of the basic materials company’s stock worth $38,228,000 after buying an additional 1,846,700 shares in the last quarter. BlackRock Inc. lifted its holdings in Arconic by 4.7% in the 2nd quarter. BlackRock Inc. now owns 35,321,536 shares of the basic materials company’s stock worth $600,819,000 after buying an additional 1,585,480 shares in the last quarter. Robecosam AG lifted its holdings in Arconic by 96.4% in the 1st quarter. Robecosam AG now owns 1,375,000 shares of the basic materials company’s stock worth $31,680,000 after buying an additional 675,000 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Arconic by 30.1% in the 1st quarter. Allianz Asset Management GmbH now owns 2,416,570 shares of the basic materials company’s stock worth $55,678,000 after buying an additional 559,644 shares in the last quarter. Hedge funds and other institutional investors own 82.94% of the company’s stock.

Shares of Arconic stock opened at $22.19 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.04 and a quick ratio of 1.15. Arconic has a twelve month low of $16.47 and a twelve month high of $31.17. The firm has a market cap of $10.63 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 0.85 and a beta of 1.31.

Arconic (NYSE:ARNC) last announced its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Arconic had a negative net margin of 2.55% and a positive return on equity of 12.06%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the prior year, the company earned $0.32 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts expect that Arconic will post 1.29 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, November 25th. Shareholders of record on Friday, November 2nd will be issued a $0.06 dividend. The ex-dividend date is Thursday, November 1st. This represents a $0.24 dividend on an annualized basis and a yield of 1.08%. Arconic’s dividend payout ratio is currently 19.67%.

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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