Arconic Inc (NYSE:ARNC) Receives $23.47 Consensus Target Price from Analysts

Arconic Inc (NYSE:ARNC) has received an average rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $24.33.

Several research analysts recently weighed in on the stock. Goldman Sachs Group set a €14.15 ($16.45) price target on shares of Assicurazioni Generali and gave the stock a “sell” rating in a research report on Thursday, May 2nd. Morgan Stanley upped their price target on shares of Williams-Sonoma from $52.00 to $56.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 10th. ValuEngine downgraded shares of China Southern Airlines from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Cowen restated a “hold” rating and set a $103.00 price target on shares of United Therapeutics in a research report on Wednesday, May 1st. Finally, Longbow Research downgraded shares of Allegheny Technologies from a “buy” rating to a “neutral” rating and set a $24.45 price target for the company. in a research report on Thursday.

Shares of ARNC traded up $0.04 during mid-day trading on Tuesday, hitting $25.18. 1,901,938 shares of the company were exchanged, compared to its average volume of 2,953,195. Arconic has a 1-year low of $15.63 and a 1-year high of $26.40. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 1.15. The firm’s 50 day simple moving average is $24.43. The stock has a market cap of $11.30 billion, a PE ratio of 18.51 and a beta of 1.46.

Arconic (NYSE:ARNC) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Arconic had a net margin of 4.86% and a return on equity of 13.53%. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Arconic will post 1.88 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, August 25th. Investors of record on Friday, August 2nd will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, August 1st. This represents a $0.08 annualized dividend and a yield of 0.32%. Arconic’s dividend payout ratio is presently 5.88%.

In other Arconic news, Director Rajiv Gupta acquired 22,603 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average price of $22.10 per share, with a total value of $499,526.30. Following the purchase, the director now owns 38,420 shares in the company, valued at $849,082. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John C. Plant acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $22.14 per share, with a total value of $1,107,000.00. Following the purchase, the chief executive officer now owns 28,282 shares in the company, valued at approximately $626,163.48. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. CSat Investment Advisory L.P. grew its stake in shares of Arconic by 31.6% in the 1st quarter. CSat Investment Advisory L.P. now owns 1,949 shares of the basic materials company’s stock valued at $37,000 after buying an additional 468 shares during the period. CIBC Asset Management Inc grew its stake in shares of Arconic by 1.0% in the 1st quarter. CIBC Asset Management Inc now owns 47,428 shares of the basic materials company’s stock valued at $906,000 after buying an additional 475 shares during the period. Candriam Luxembourg S.C.A. grew its stake in shares of Arconic by 1.4% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 34,199 shares of the basic materials company’s stock valued at $654,000 after buying an additional 487 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Arconic by 2.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 25,355 shares of the basic materials company’s stock valued at $655,000 after buying an additional 500 shares during the period. Finally, Securian Asset Management Inc boosted its position in shares of Arconic by 1.5% during the 1st quarter. Securian Asset Management Inc now owns 44,107 shares of the basic materials company’s stock worth $843,000 after purchasing an additional 666 shares during the period. 83.73% of the stock is owned by institutional investors and hedge funds.

About Arconic

Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions segment 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 for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.

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Analyst Recommendations for Arconic (NYSE:ARNC)

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