ValuEngine Lowers Arconic (ARNC) to Sell

Arconic (NYSE:ARNC) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, April 2nd.

ARNC has been the subject of a number of other reports. Zacks Investment Research raised Arconic from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. Goldman Sachs initiated coverage on Arconic in a report on Tuesday, March 20th. They set a “neutral” rating and a $28.00 price target for the company. Barclays initiated coverage on Arconic in a report on Thursday, March 29th. They set an “equal weight” rating and a $26.00 price target for the company. Morgan Stanley reissued a “hold” rating and issued a $28.00 target price (down from $30.00) on shares of Arconic in a research note on Friday, February 23rd. Finally, Wells Fargo initiated coverage on Arconic in a research note on Thursday, January 4th. They issued an “outperform” rating and a $35.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Arconic has a consensus rating of “Hold” and an average target price of $29.27.

How to Become a New Pot Stock Millionaire

NYSE:ARNC traded up $0.19 during mid-day trading on Monday, hitting $23.75. 1,732,277 shares of the company’s stock traded hands, compared to its average volume of 3,828,184. The company has a quick ratio of 1.38, a current ratio of 2.26 and a debt-to-equity ratio of 1.40. Arconic has a 12 month low of $21.75 and a 12 month high of $31.17. The company has a market cap of $11,214.80, a price-to-earnings ratio of 19.31, a PEG ratio of 0.78 and a beta of 1.13.

Arconic (NYSE:ARNC) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.07. Arconic had a positive return on equity of 11.29% and a negative net margin of 0.57%. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the company earned $0.12 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. analysts anticipate that Arconic will post 1.49 EPS for the current year.

In other news, Director David P. Hess acquired 40,300 shares of Arconic stock in a transaction dated Thursday, February 8th. The stock was bought at an average price of $24.80 per share, for a total transaction of $999,440.00. Following the completion of the acquisition, the director now directly owns 127,870 shares in the company, valued at approximately $3,171,176. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.17% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the stock. Savant Capital LLC boosted its stake in shares of Arconic by 20.0% in the fourth quarter. Savant Capital LLC now owns 11,667 shares of the basic materials company’s stock valued at $318,000 after buying an additional 1,948 shares during the period. Meadow Creek Investment Management LLC lifted its stake in Arconic by 20.3% during the fourth quarter. Meadow Creek Investment Management LLC now owns 13,680 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 2,304 shares during the last quarter. ARK Investment Management LLC lifted its stake in Arconic by 11.2% during the fourth quarter. ARK Investment Management LLC now owns 27,553 shares of the basic materials company’s stock worth $751,000 after purchasing an additional 2,786 shares during the last quarter. Aperio Group LLC increased its holdings in shares of Arconic by 2.9% during the fourth quarter. Aperio Group LLC now owns 106,288 shares of the basic materials company’s stock worth $2,896,000 after buying an additional 2,972 shares in the last quarter. Finally, AMP Capital Investors Ltd increased its holdings in shares of Arconic by 2.9% during the fourth quarter. AMP Capital Investors Ltd now owns 122,586 shares of the basic materials company’s stock worth $3,342,000 after buying an additional 3,398 shares in the last quarter. Institutional investors and hedge funds own 80.44% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “ValuEngine Lowers Arconic (ARNC) to Sell” was originally published by Macon Daily and is the sole property of of Macon Daily. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://macondaily.com/2018/04/17/arconic-arnc-downgraded-to-sell-at-valuengine-updated-updated.html.

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.

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.

Leave a Reply