Analysts Set Arconic Inc. (ARNC) Target Price at $28.50

Shares of Arconic Inc. (NYSE:ARNC) have earned a consensus rating of “Buy” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $28.50.

A number of brokerages have commented on ARNC. Morgan Stanley restated a “hold” rating and issued a $27.00 price target on shares of Arconic in a research report on Tuesday, October 24th. Cowen Inc restated a “hold” rating and issued a $25.00 price target on shares of Arconic in a research report on Tuesday, October 31st. Deutsche Bank AG set a $31.00 price target on Arconic and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Vetr cut Arconic from a “buy” rating to a “hold” rating and set a $27.97 price target for the company. in a research report on Monday, October 23rd. Finally, BidaskClub upgraded Arconic from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd.

Arconic (ARNC) traded up $0.23 during trading on Thursday, reaching $23.99. The company had a trading volume of 1,950,000 shares, compared to its average volume of 2,970,273. The stock has a market capitalization of $11,546.96, a PE ratio of 23.52 and a beta of 0.88. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.38 and a current ratio of 2.30. Arconic has a 12 month low of $18.47 and a 12 month high of $30.69.

Arconic (NYSE:ARNC) last issued its quarterly earnings results on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Arconic had a positive return on equity of 9.71% and a negative net margin of 4.70%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. equities research analysts anticipate that Arconic will post 1.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, November 25th. Stockholders of record on Friday, November 3rd were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, November 2nd. Arconic’s dividend payout ratio (DPR) is -15.09%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARNC. Harris Associates L P boosted its stake in shares of Arconic by 151.0% in the second quarter. Harris Associates L P now owns 13,439,188 shares of the basic materials company’s stock worth $304,398,000 after acquiring an additional 8,084,588 shares during the period. Orbis Allan Gray Ltd boosted its stake in shares of Arconic by 50.9% in the second quarter. Orbis Allan Gray Ltd now owns 22,812,295 shares of the basic materials company’s stock worth $517,132,000 after acquiring an additional 7,696,839 shares during the period. Permian Investment Partners LP bought a new position in shares of Arconic in the second quarter worth about $34,975,000. Dimensional Fund Advisors LP boosted its stake in shares of Arconic by 33.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,813,376 shares of the basic materials company’s stock worth $131,682,000 after acquiring an additional 1,468,173 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Arconic by 194.2% in the second quarter. Prudential Financial Inc. now owns 1,859,878 shares of the basic materials company’s stock worth $42,126,000 after acquiring an additional 1,227,740 shares during the period. 73.19% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Analysts Set Arconic Inc. (ARNC) Target Price at $28.50” was originally reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this news story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this news story can be read at https://transcriptdaily.com/2017/11/27/analysts-set-arconic-inc-arnc-target-price-at-28-50.html.

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.

Analyst Recommendations for Arconic (NYSE:ARNC)

Receive News & Ratings for Arconic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arconic Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply