Arconic (ARNC) Lowered to “Neutral” at Longbow Research

Arconic (NYSE:ARNC) was downgraded by equities researchers at Longbow Research from a “buy” rating to a “neutral” rating in a report released on Monday, The Fly reports.

A number of other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Arconic from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Wells Fargo assumed coverage on shares of Arconic in a research note on Thursday, January 4th. They issued an “outperform” rating and a $35.00 price target for the company. Cowen reiterated a “hold” rating and set a $25.00 target price on shares of Arconic in a research note on Wednesday, January 3rd. Seaport Global Securities reiterated a “buy” rating and set a $33.00 target price on shares of Arconic in a research note on Monday, January 22nd. Finally, Barclays assumed coverage on shares of Arconic in a research note on Thursday, March 29th. They set an “equal weight” rating and a $26.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $29.00.

Shares of NYSE:ARNC opened at $23.26 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.26 and a quick ratio of 1.38. The firm has a market capitalization of $11,229.28, a P/E ratio of 19.07, a P/E/G ratio of 0.78 and a beta of 1.13. Arconic has a 12-month low of $21.75 and a 12-month high of $31.17.

Arconic (NYSE:ARNC) last issued its quarterly earnings results on Monday, February 5th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.08 billion. Arconic had a negative net margin of 0.57% and a positive return on equity of 11.29%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. equities research analysts predict that Arconic will post 1.49 earnings per share for the current year.

In other Arconic news, Director David P. Hess bought 40,300 shares of the stock in a transaction on Thursday, February 8th. The stock was purchased at an average price of $24.80 per share, for a total transaction of $999,440.00. Following the completion of the purchase, the director now directly owns 127,870 shares in the company, valued at $3,171,176. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC acquired a new position in shares of Arconic during the fourth quarter valued at $142,000. Lazard Asset Management LLC acquired a new position in shares of Arconic during the fourth quarter valued at $167,000. Bluestein R H & Co. acquired a new position in shares of Arconic during the fourth quarter valued at $204,000. Fox Run Management L.L.C. acquired a new position in shares of Arconic during the fourth quarter valued at $205,000. Finally, UMB Bank N A MO acquired a new position in shares of Arconic during the fourth quarter valued at $212,000. Hedge funds and other institutional investors own 80.33% of the company’s stock.

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About Arconic

Arconic Inc engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. It operates through three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions 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, as well as various forged, extruded, and machined metal products.

The Fly

Analyst Recommendations for Arconic (NYSE:ARNC)

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