Shares of Arconic Inc (NYSE:ARNC) have received a consensus recommendation of “Hold” from the fourteen brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $23.75.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Arconic from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, August 14th. Longbow Research cut shares of Arconic from a “buy” rating to a “neutral” rating in a research note on Monday, September 17th. They noted that the move was a valuation call. Jefferies Financial Group set a $25.00 price target on shares of Arconic and gave the stock a “buy” rating in a research note on Wednesday, October 31st. TheStreet raised shares of Arconic from a “d+” rating to a “c-” rating in a research note on Monday, October 15th. Finally, Morgan Stanley set a $22.00 price target on shares of Arconic and gave the stock a “hold” rating in a research note on Wednesday, October 10th.

Shares of NYSE ARNC traded down $0.24 during midday trading on Monday, hitting $20.29. The company’s stock had a trading volume of 4,056,436 shares, compared to its average volume of 4,268,122. Arconic has a one year low of $16.47 and a one year high of $31.17. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 1.19. The firm has a market cap of $9.92 billion, a P/E ratio of 16.63 and a beta of 1.22.

Arconic (NYSE:ARNC) last posted its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.48 billion. Arconic had a negative net margin of 2.19% and a positive return on equity of 12.94%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Equities analysts expect that Arconic will post 1.31 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Sunday, November 25th. Shareholders of record on Friday, November 2nd were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, November 1st. This represents a $0.24 dividend on an annualized basis and a yield of 1.18%. Arconic’s dividend payout ratio is presently 19.67%.

Several institutional investors have recently made changes to their positions in ARNC. Marshall Wace North America L.P. purchased a new stake in Arconic during the 3rd quarter valued at $7,599,000. Vanguard Group Inc. raised its holdings in Arconic by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 44,331,106 shares of the basic materials company’s stock worth $975,728,000 after purchasing an additional 653,470 shares in the last quarter. Morgan Stanley raised its holdings in Arconic by 134.9% in the 3rd quarter. Morgan Stanley now owns 3,406,246 shares of the basic materials company’s stock worth $74,972,000 after purchasing an additional 1,955,880 shares in the last quarter. Legal & General Group Plc raised its holdings in Arconic by 3.6% in the 3rd quarter. Legal & General Group Plc now owns 2,092,038 shares of the basic materials company’s stock worth $46,038,000 after purchasing an additional 71,825 shares in the last quarter. Finally, Standard Life Aberdeen plc increased its stake in shares of Arconic by 8.9% in the 3rd quarter. Standard Life Aberdeen plc now owns 228,522 shares of the basic materials company’s stock worth $5,031,000 after acquiring an additional 18,622 shares in the last quarter. 83.58% of the stock is owned by institutional investors.

Arconic Company Profile

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.

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Analyst Recommendations for Arconic (NYSE:ARNC)

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