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.
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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.
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