Arconic Co. (NYSE:ARNC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Arconic Co. (NYSE:ARNCGet Rating) has earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $38.00.

ARNC has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Arconic from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. The Goldman Sachs Group boosted their target price on shares of Arconic from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, June 8th.

Insider Buying and Selling at Arconic

In other news, EVP Melissa M. Miller sold 31,122 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $28.28, for a total value of $880,130.16. Following the transaction, the executive vice president now owns 66,926 shares of the company’s stock, valued at $1,892,667.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Melissa M. Miller sold 31,122 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $28.28, for a total value of $880,130.16. Following the transaction, the executive vice president now owns 66,926 shares of the company’s stock, valued at $1,892,667.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Diana B. Perreiah sold 4,015 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $27.40, for a total transaction of $110,011.00. Following the sale, the executive vice president now directly owns 126,204 shares in the company, valued at approximately $3,457,989.60. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Sachem Head Capital Management LP grew its holdings in shares of Arconic by 805.9% in the second quarter. Sachem Head Capital Management LP now owns 4,076,600 shares of the basic materials company’s stock worth $114,349,000 after purchasing an additional 3,626,600 shares during the last quarter. State Street Corp grew its holdings in Arconic by 50.5% during the 1st quarter. State Street Corp now owns 8,239,379 shares of the basic materials company’s stock worth $211,093,000 after acquiring an additional 2,765,816 shares in the last quarter. FMR LLC grew its holdings in Arconic by 23.0% during the 2nd quarter. FMR LLC now owns 5,311,189 shares of the basic materials company’s stock worth $148,979,000 after acquiring an additional 992,501 shares in the last quarter. BlackRock Inc. grew its holdings in Arconic by 5.1% during the 1st quarter. BlackRock Inc. now owns 20,311,764 shares of the basic materials company’s stock worth $520,389,000 after acquiring an additional 991,281 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Arconic by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 11,653,381 shares of the basic materials company’s stock worth $298,559,000 after acquiring an additional 791,501 shares in the last quarter. Institutional investors own 95.87% of the company’s stock.

Arconic Stock Up 0.3 %

Shares of Arconic stock opened at $25.12 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 1.63. The stock has a market capitalization of $2.58 billion, a PE ratio of 20.26 and a beta of 1.60. Arconic has a 52-week low of $22.45 and a 52-week high of $36.47. The company has a 50-day simple moving average of $27.97 and a two-hundred day simple moving average of $27.42.

Arconic (NYSE:ARNCGet Rating) last issued its earnings results on Tuesday, August 2nd. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.10). Arconic had a return on equity of 9.28% and a net margin of 1.53%. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period last year, the firm posted ($0.05) earnings per share. The firm’s quarterly revenue was up 41.5% on a year-over-year basis. On average, analysts anticipate that Arconic will post 2.81 EPS for the current fiscal year.

About Arconic

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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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