Arconic (NYSE:ARNC) Downgraded by Longbow Research

Longbow Research lowered shares of Arconic (NYSE:ARNC) from a buy rating to a neutral rating in a research note published on Thursday, BenzingaRatingsTable reports.

ARNC has been the subject of a number of other research reports. Goldman Sachs Group set a €14.15 ($16.45) price objective on shares of Assicurazioni Generali and gave the company a sell rating in a report on Thursday, May 2nd. Jefferies Financial Group cut their price objective on shares of Seres Therapeutics from $6.00 to $4.00 and set a hold rating for the company in a report on Monday, July 1st. Morgan Stanley lifted their target price on shares of Williams-Sonoma from $52.00 to $56.00 and gave the company an underweight rating in a research report on Wednesday, July 10th. Cowen reiterated a hold rating and issued a $103.00 target price on shares of United Therapeutics in a research report on Wednesday, May 1st. Finally, ValuEngine lowered shares of China Southern Airlines from a hold rating to a sell rating in a research report on Monday, April 29th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $23.47.

ARNC opened at $25.18 on Thursday. Arconic has a fifty-two week low of $15.63 and a fifty-two week high of $26.40. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 1.15. The firm has a fifty day moving average price of $24.43. The stock has a market capitalization of $11.30 billion, a PE ratio of 17.37 and a beta of 1.46.



Arconic (NYSE:ARNC) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Arconic had a net margin of 4.86% and a return on equity of 13.53%. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts predict that Arconic will post 1.88 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, August 25th. Stockholders of record on Friday, August 2nd will be given a $0.02 dividend. The ex-dividend date is Thursday, August 1st. This represents a $0.08 annualized dividend and a dividend yield of 0.32%. Arconic’s dividend payout ratio (DPR) is 5.88%.

In other Arconic news, CEO John C. Plant purchased 50,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $22.14 per share, for a total transaction of $1,107,000.00. Following the completion of the transaction, the chief executive officer now owns 28,282 shares of the company’s stock, valued at approximately $626,163.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rajiv Gupta purchased 22,603 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average price of $22.10 per share, for a total transaction of $499,526.30. Following the completion of the transaction, the director now directly owns 38,420 shares of the company’s stock, valued at approximately $849,082. The disclosure for this purchase can be found here. 0.14% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CSat Investment Advisory L.P. boosted its position in Arconic by 31.6% during the first quarter. CSat Investment Advisory L.P. now owns 1,949 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 468 shares during the last quarter. CIBC Asset Management Inc boosted its position in Arconic by 1.0% during the first quarter. CIBC Asset Management Inc now owns 47,428 shares of the basic materials company’s stock worth $906,000 after acquiring an additional 475 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in Arconic by 1.4% during the first quarter. Candriam Luxembourg S.C.A. now owns 34,199 shares of the basic materials company’s stock worth $654,000 after acquiring an additional 487 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Arconic by 2.0% during the second quarter. Nisa Investment Advisors LLC now owns 25,355 shares of the basic materials company’s stock worth $655,000 after acquiring an additional 500 shares during the last quarter. Finally, Securian Asset Management Inc boosted its position in Arconic by 1.5% during the first quarter. Securian Asset Management Inc now owns 44,107 shares of the basic materials company’s stock worth $843,000 after acquiring an additional 666 shares during the last quarter. Hedge funds and other institutional investors own 83.73% of the company’s stock.

About Arconic

Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions segment 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 for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.

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Analyst Recommendations for Arconic (NYSE:ARNC)

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