ValuEngine upgraded shares of Arconic (NYSE:ARNC) from a strong sell rating to a sell rating in a research note published on Wednesday.

A number of other research firms have also commented on ARNC. Jefferies Financial Group set a $25.00 price objective on shares of Arconic and gave the company a buy rating in a research note on Wednesday, August 1st. Cowen reaffirmed a hold rating and issued a $15.00 target price on shares of Arconic in a report on Tuesday, July 31st. Zacks Investment Research raised shares of Arconic from a hold rating to a buy rating and set a $24.00 target price on the stock in a report on Friday, August 3rd. Seaport Global Securities reaffirmed a buy rating on shares of Arconic in a report on Wednesday, July 18th. Finally, Morgan Stanley set a $20.00 target price on shares of Arconic and gave the company a hold rating in a report on Monday, July 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Arconic currently has an average rating of Hold and a consensus target price of $24.91.

NYSE ARNC opened at $22.69 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.15 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $10.96 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 0.88 and a beta of 1.31. Arconic has a one year low of $16.47 and a one year high of $31.17.

Arconic (NYSE:ARNC) last posted its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.49 billion. Arconic had a negative net margin of 2.55% and a positive return on equity of 12.06%. Arconic’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. equities analysts anticipate that Arconic will post 1.29 earnings per share for the current year.

Several large investors have recently modified their holdings of ARNC. BlackRock Inc. boosted its holdings in Arconic by 4.7% during the second quarter. BlackRock Inc. now owns 35,321,536 shares of the basic materials company’s stock worth $600,819,000 after buying an additional 1,585,480 shares in the last quarter. Canyon Capital Advisors LLC boosted its holdings in Arconic by 0.4% during the second quarter. Canyon Capital Advisors LLC now owns 7,208,100 shares of the basic materials company’s stock worth $122,610,000 after buying an additional 30,100 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Arconic by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 5,665,633 shares of the basic materials company’s stock worth $96,370,000 after buying an additional 417,504 shares in the last quarter. Fairpointe Capital LLC boosted its holdings in Arconic by 9.0% during the second quarter. Fairpointe Capital LLC now owns 4,720,095 shares of the basic materials company’s stock worth $80,289,000 after buying an additional 388,647 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Arconic by 30.1% during the first quarter. Allianz Asset Management GmbH now owns 2,416,570 shares of the basic materials company’s stock worth $55,678,000 after buying an additional 559,644 shares in the last quarter. 82.96% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Diversification

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Arconic (NYSE:ARNC)

Receive News & Ratings for Arconic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arconic and related companies with MarketBeat.com's FREE daily email newsletter.