Arconic Inc (ARNC) Stock Rating Lowered by Vetr Inc.

Arconic Inc (NASDAQ:ARNC) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Monday. They presently have a $27.97 target price on the basic materials company’s stock. Vetr‘s target price would suggest a potential upside of 14.96% from the company’s current price.

Several other analysts have also recently issued reports on the stock. J P Morgan Chase & Co raised shares of Arconic from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $30.00 to $29.00 in a research note on Monday, July 10th. Seaport Global Securities raised shares of Arconic from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, July 13th. BidaskClub raised shares of Arconic from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Zacks Investment Research raised shares of Arconic from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Tuesday, September 12th. Finally, Cowen and Company reissued a “hold” rating and set a $25.00 price objective on shares of Arconic in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $27.27.

Arconic (ARNC) opened at 24.33 on Monday. The stock’s market capitalization is $10.73 billion. The company has a 50-day moving average price of $26.02 and a 200 day moving average price of $25.86. Arconic has a 12 month low of $16.75 and a 12 month high of $30.69.

Arconic (NASDAQ:ARNC) last issued its quarterly earnings results on Monday, October 23rd. The basic materials company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.09 billion. Arconic had a net margin of 6.50% and a return on equity of 14.01%. The company’s revenue was up 3.1% on a year-over-year basis. Equities analysts predict that Arconic will post $1.18 earnings per share for the current year.

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In other Arconic news, Director Elmer L. Doty purchased 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $24.51 per share, with a total value of $147,060.00. Following the transaction, the director now owns 4,409 shares in the company, valued at $108,064.59. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James F. Albaugh purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were acquired at an average cost of $24.94 per share, with a total value of $124,700.00. Following the completion of the transaction, the director now owns 9,409 shares in the company, valued at approximately $234,660.46. The disclosure for this purchase can be found here. Insiders have bought a total of 26,000 shares of company stock valued at $640,310 over the last three months.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Arconic by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 42,988,420 shares of the basic materials company’s stock worth $973,688,000 after purchasing an additional 1,111,404 shares during the period. Orbis Allan Gray Ltd boosted its position in Arconic by 50.9% during the 2nd quarter. Orbis Allan Gray Ltd now owns 22,812,295 shares of the basic materials company’s stock worth $517,132,000 after purchasing an additional 7,696,839 shares during the period. Harris Associates L P boosted its position in Arconic by 151.0% during the 2nd quarter. Harris Associates L P now owns 13,439,188 shares of the basic materials company’s stock worth $304,398,000 after purchasing an additional 8,084,588 shares during the period. Dimensional Fund Advisors LP boosted its position in Arconic by 33.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,813,376 shares of the basic materials company’s stock worth $131,682,000 after purchasing an additional 1,468,173 shares during the period. Finally, Prudential Financial Inc. boosted its position in Arconic by 194.2% during the 2nd quarter. Prudential Financial Inc. now owns 1,859,878 shares of the basic materials company’s stock worth $42,126,000 after purchasing an additional 1,227,740 shares during the period.

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 (NASDAQ:ARNC)

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