Arconic Co. (NYSE:ARNC – Get Rating) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $19.55 and last traded at $19.70, with a volume of 2968 shares. The stock had previously closed at $19.86.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Benchmark cut their target price on shares of Arconic from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, September 15th. StockNews.com lowered shares of Arconic from a "buy" rating to a "hold" rating in a research report on Thursday, September 15th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Arconic from $34.00 to $29.00 and set a "buy" rating for the company in a research report on Thursday, September 15th. Finally, The Goldman Sachs Group boosted their price objective on shares of Arconic from $32.00 to $36.00 and gave the company a "neutral" rating in a research report on Wednesday, June 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Arconic has a consensus rating of "Moderate Buy" and a consensus target price of $36.40.
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The company has a debt-to-equity ratio of 0.88, a current ratio of 1.63 and a quick ratio of 0.78. The firm's 50-day moving average is $26.95 and its 200 day moving average is $26.76. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 15.89 and a beta of 1.71.
Arconic (NYSE:ARNC – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.10). Arconic had a return on equity of 9.28% and a net margin of 1.53%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the company earned ($0.05) EPS. Arconic's revenue was up 41.5% on a year-over-year basis.Insider Activity
In other Arconic news, EVP Diana B. Perreiah sold 4,015 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $27.40, for a total transaction of $110,011.00. Following the transaction, the executive vice president now directly owns 126,204 shares in the company, valued at approximately $3,457,989.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arconic news, EVP Diana B. Perreiah sold 4,015 shares of the firm's stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $27.40, for a total transaction of $110,011.00. Following the transaction, the executive vice president now owns 126,204 shares of the company's stock, valued at approximately $3,457,989.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Melissa M. Miller sold 31,122 shares of the firm's stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $28.28, for a total transaction of $880,130.16. Following the transaction, the executive vice president now owns 66,926 shares of the company's stock, valued at approximately $1,892,667.28. The disclosure for this sale can be found here. Insiders own 0.79% of the company's stock.
Hedge Funds Weigh In On Arconic
Several large investors have recently bought and sold shares of the stock. Quent Capital LLC acquired a new stake in shares of Arconic in the 4th quarter valued at approximately $41,000. EverSource Wealth Advisors LLC increased its position in Arconic by 319.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,249 shares of the basic materials company's stock worth $35,000 after acquiring an additional 951 shares during the period. Tompkins Financial Corp bought a new stake in shares of Arconic during the 1st quarter valued at $39,000. Captrust Financial Advisors lifted its position in shares of Arconic by 21.9% during the 1st quarter. Captrust Financial Advisors now owns 3,666 shares of the basic materials company's stock valued at $94,000 after acquiring an additional 659 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of Arconic during the 2nd quarter valued at $120,000. 95.87% of the stock is currently owned by institutional investors and hedge funds.
Arconic Company Profile
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Arconic Corporation manufactures and sells aluminum sheets, plates, extrusions, and architectural products in the United States, Canada, China, France, Germany, Hungary, Russia, the United Kingdom, and internationally. It operates through three segments: Rolled Products, Building and Construction Systems, and Extrusions.
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