Arconic (NYSE:ARNC)‘s stock had its “buy” rating reiterated by stock analysts at Seaport Global Securities in a report released on Tuesday. They currently have a $32.00 price objective on the basic materials company’s stock. Seaport Global Securities’ target price suggests a potential upside of 20.66% from the company’s current price.

Several other research firms also recently weighed in on ARNC. Cowen reissued a “hold” rating and set a $25.00 price target on shares of Arconic in a research report on Thursday, February 1st. Morgan Stanley reissued a “hold” rating and set a $27.00 price target on shares of Arconic in a research report on Tuesday, October 24th. Zacks Investment Research downgraded Arconic from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Deutsche Bank set a $31.00 price target on Arconic and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Vetr raised Arconic from a “hold” rating to a “buy” rating and set a $27.97 price target for the company in a research report on Tuesday, October 17th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $29.77.

Arconic (NYSE ARNC) opened at $26.52 on Tuesday. Arconic has a one year low of $21.75 and a one year high of $31.17. The firm has a market capitalization of $12,760.00, a P/E ratio of -12.33, a P/E/G ratio of 0.95 and a beta of 0.93. The company has a quick ratio of 1.38, a current ratio of 2.30 and a debt-to-equity ratio of 1.15.

Arconic (NYSE:ARNC) last released its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.07. Arconic had a positive return on equity of 9.71% and a negative net margin of 4.70%. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $0.12 EPS. Arconic’s quarterly revenue was up 10.2% on a year-over-year basis. equities analysts predict that Arconic will post 1.15 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Boston Partners boosted its holdings in Arconic by 567.2% in the fourth quarter. Boston Partners now owns 917,725 shares of the basic materials company’s stock valued at $25,008,000 after acquiring an additional 780,173 shares during the last quarter. Graticule Asia Macro Advisors LLC acquired a new position in Arconic in the third quarter valued at $10,425,000. Bank of Nova Scotia boosted its holdings in Arconic by 311.4% in the second quarter. Bank of Nova Scotia now owns 499,237 shares of the basic materials company’s stock valued at $11,308,000 after acquiring an additional 377,886 shares during the last quarter. Bank of Montreal Can boosted its holdings in Arconic by 83.4% in the fourth quarter. Bank of Montreal Can now owns 713,687 shares of the basic materials company’s stock valued at $19,447,000 after acquiring an additional 324,511 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Arconic by 5.6% in the third quarter. Dimensional Fund Advisors LP now owns 6,137,495 shares of the basic materials company’s stock valued at $152,744,000 after acquiring an additional 324,119 shares during the last quarter. Institutional investors and hedge funds own 74.58% of the company’s stock.

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Arconic Company Profile

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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