Arconic’s (ARNC) Hold Rating Reaffirmed at Cowen and Company

Arconic Inc (NASDAQ:ARNC)‘s stock had its “hold” rating reiterated by Cowen and Company in a report released on Thursday, October 19th. They currently have a $25.00 price objective on the basic materials company’s stock. Cowen and Company’s target price would suggest a potential upside of 1.58% from the stock’s previous close.

A number of other equities research analysts have also weighed in on ARNC. Vetr upgraded Arconic to a “buy” rating and set a $27.34 price target on the stock in a research note on Thursday, June 22nd. Deutsche Bank AG restated a “buy” rating on shares of Arconic in a research note on Saturday, June 24th. J P Morgan Chase & Co restated a “neutral” rating on shares of Arconic in a research note on Tuesday, June 27th. Morgan Stanley restated an “equal weight” rating on shares of Arconic in a research note on Friday, June 30th. Finally, Seaport Global Securities upgraded Arconic from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.18.

Shares of Arconic (NASDAQ ARNC) traded up 0.08% during trading on Thursday, reaching $24.61. 2,927,309 shares of the company were exchanged. The stock has a 50-day moving average price of $26.05 and a 200-day moving average price of $25.83. The stock’s market capitalization is $10.85 billion. Arconic has a one year low of $16.75 and a one year high of $30.69.

Arconic (NASDAQ:ARNC) last announced its earnings results on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.02). Arconic had a return on equity of 7.07% and a net margin of 3.68%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.09 billion. The company’s revenue was up 3.1% compared to the same quarter last year. Analysts forecast that Arconic will post $1.15 EPS for the current year.

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In other Arconic news, Director Elmer L. Doty bought 6,000 shares of Arconic stock in a transaction dated Thursday, August 10th. The stock was acquired at an average cost of $24.51 per share, with a total value of $147,060.00. Following the purchase, the director now directly owns 4,409 shares in the company, valued at approximately $108,064.59. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Patricia F. Russo bought 15,000 shares of Arconic stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average cost of $24.57 per share, with a total value of $368,550.00. Following the completion of the purchase, the director now owns 7,928 shares in the company, valued at $194,790.96. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 26,000 shares of company stock worth $640,310.

A number of hedge funds and other institutional investors have recently bought and sold shares of ARNC. Fiduciary Trust Co. acquired a new position in Arconic in the 2nd quarter valued at $111,000. Capstone Investment Advisors Netherlands B.V. raised its stake in Arconic by 47.9% in the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,950 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 1,604 shares during the last quarter. Huntington National Bank acquired a new position in Arconic in the 3rd quarter valued at $132,000. BRYN MAWR TRUST Co acquired a new position in Arconic in the 2nd quarter valued at $214,000. Finally, Wayne Hummer Investments L.L.C. raised its stake in Arconic by 8.2% in the 2nd quarter. Wayne Hummer Investments L.L.C. now owns 9,630 shares of the basic materials company’s stock valued at $218,000 after purchasing an additional 732 shares during the last quarter.

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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