Arconic’s (ARNC) “Hold” Rating Reiterated at Cowen

Cowen reissued their hold rating on shares of Arconic (NYSE:ARNC) in a research report released on Wednesday morning. They currently have a $25.00 price target on the basic materials company’s stock.

Other research analysts also recently issued reports about the company. Zacks Investment Research raised Arconic from a hold rating to a buy rating and set a $27.00 target price on the stock in a report on Tuesday, September 12th. Deutsche Bank set a $31.00 target price on Arconic and gave the stock a buy rating in a report on Tuesday, October 24th. Seaport Global Securities reissued a buy rating and issued a $29.00 target price (up from $27.00) on shares of Arconic in a report on Tuesday, September 26th. Vetr raised Arconic from a hold rating to a buy rating and set a $27.97 target price on the stock in a report on Tuesday, October 17th. Finally, BidaskClub raised Arconic from a sell rating to a hold rating in a report on Friday, September 22nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $29.44.

Arconic (NYSE ARNC) traded up $0.29 during midday trading on Wednesday, reaching $29.61. The company’s stock had a trading volume of 3,700,000 shares, compared to its average volume of 3,240,000. The company has a quick ratio of 1.38, a current ratio of 2.30 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $14,250.00, a P/E ratio of -13.77 and a beta of 0.85. Arconic has a 12 month low of $20.01 and a 12 month high of $30.69.

Arconic (NYSE:ARNC) last released its quarterly earnings data on Monday, October 23rd. The basic materials company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.09 billion. Arconic had a negative net margin of 4.70% and a positive return on equity of 9.71%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. equities analysts expect that Arconic will post 1.17 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC lifted its holdings in Arconic by 4.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 603,868 shares of the basic materials company’s stock worth $15,024,000 after buying an additional 26,814 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Arconic by 29.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 112,514 shares of the basic materials company’s stock worth $2,799,000 after buying an additional 25,619 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Arconic by 7.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 121,200 shares of the basic materials company’s stock worth $3,015,000 after buying an additional 8,501 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Arconic by 74.5% during the 3rd quarter. Janus Henderson Group PLC now owns 143,645 shares of the basic materials company’s stock worth $3,574,000 after buying an additional 61,340 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. lifted its holdings in Arconic by 109.1% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 158,827 shares of the basic materials company’s stock worth $3,951,000 after buying an additional 82,872 shares in the last quarter. 74.62% of the stock is currently owned by hedge funds and other institutional investors.

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About Arconic

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 (NYSE:ARNC)

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