Arconic (ARNC) Upgraded to Sell at ValuEngine
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.
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.
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.
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