Benchmark’s stock analysts lowered their price target for Arconic (NYSE: ARNC-Get Rating), which had been previously set at $40.00, to $35.00 in a letter given out to investors on Thursday. According to Benchmark’s price goal, the price of the stock has the potential to increase by 37.36 percent from where it is currently trading.
Allegations made against ARNC in recent years have arisen from various brokerage businesses. ARNC is the target of these allegations. The recommendation about Arconic was upgraded from a “hold” to a “buy” in a research report provided by StockNews.com on Wednesday, August 3. Goldman Sachs Group upgraded Arconic from a “neutral” rating to an “overweight” rating and raised their target price on the stock from $32.00 to $36.00 in a research report made public on Wednesday, June 8.
In a research note published on Thursday, Deutsche Bank Aktiengesellschaft lowered their price objective for Arconic shares. The new price target is $29.00, down from $34.00. This was the final reduction, although it was by no means the least important. Five separate financial analysts have each assigned the stock a buy recommendation, and one of those analysts has even suggested that investors purchase the shares. MarketBeat.com defines the current rating of the firm as a “Moderate Buy,” and the website has an average price goal of $36.40 for the stock. MarketBeat.com also has a price objective of $36.40 for the stock. On Thursday, the price of the NYSE ARNC was $25.48 when trading began. The company currently trades for 20.55 times its annual earnings, and its beta value is 1.71. The value of the company’s stock on the market is around $2.62 billion.
During the past year, the price of Arconic fell to an all-time low of $22.45 and rose to an all-time high of $35.74. The stock has been trading at $26.98 on average over the past 200 trading days, with a moving average price of $27.54 during the previous 50 trading days. A debt-to-equity ratio comes in at 0.88, a quick ratio that comes in at 0.78, a current ratio that comes in at 1.63, and a quick ratio that comes in at 0.78. Arconic’s (NYSE: ARNC-Get Rating) most recent quarterly earnings report was completed. The earnings per share (EPS) for the basic materials division for the quarter came in at $0.62, which was $0.10 less than the average prediction of $0.72. The return on equity for Arconic came in at 9.28%, while the net margin for the company was 1.53%. The company recorded sales of $2.55 billion for the period in question, which was much higher than the average expectation of $2.42 billion for the period in question. When compared to the prior year’s results for the same quarter, the company saw a loss of $0.05 per share.
Arconic’s revenue for the most recent quarter was up 41.5% compared to the prior quarter’s. According to the projections of market experts, Arconic is expected to generate earnings of 2.81 cents per share during the current fiscal year. Diana B. Perreiah, the company’s Executive Vice President, sold 4,015 shares of the company’s stock on Thursday, August 25. This is yet another new turn of events. The price of each share was set at $27.40, which resulted in a total sale price of $110,011.00 for the shares. The average price per share was $27.40. As a direct result of the transaction, the executive vice president now owns 126,204 shares of the corporation in his name. The current value of these shares on the market is $3,457,989.60 per share. The transaction notification was submitted to the Securities and Exchange Commission in the form of a filing; the filing in its full can be viewed by clicking on this link. The SEC was notified of the transaction. Diana B. Perreiah, the company’s Executive Vice President, sold 4,015 shares of the company’s stock on Thursday, August 25.
This is yet another new turn of events. The price of each share was set at $27.40, which resulted in a total sale price of $110,011.00 for the shares. The average price per share was $27.40. Following the successful conclusion of the transaction, the executive vice president is now the direct owner of 126,204 shares of the company. The total value of these shares is $3,457,989.60. The sale was disclosed in a document by the Securities and Exchange Commission (SEC) and may be located on their official website. EVP Melissa M. Miller sold 31,122 shares of the company’s stock on Monday, August 8, further reducing her ownership of the business. The stock sale resulted in total revenue of $880,130.16 and an average price of $28.28 per share for each of the sold shares. When the transaction is finalized, the executive vice president will become the owner of 66,926 shares of the company’s stock, which have a value of $1,892,667.28. Disclosures that are related to the sale might be found in this section of the website. Insiders of the company presently hold 0.79% of the total shares outstanding in the company. Several well-known investors have recently engaged in market activity by purchasing and selling ARNC shares.
The value of Sachem Head Capital Management LP’s assets in Arconic rose by 805.9% during the second quarter of the fiscal year. Sachem Head Capital Management LP now holds 4,076,600 shares of the basic materials company’s stock, which is $114,349,000. This is due to acquiring an additional 3,626,600 shares during the preceding quarter. The percentage of Arconic stock that State Street Corporation owned grew by 50.5% during the first quarter after the company invested. After making new purchases during the quarter, State Street Corp now has 8,239,379 shares of the firm that deal in basic materials. The value of these shares comes to a total of $211,093,000. During the second quarter, FMR LLC achieved a 23.0% rise in the proportion of Arconic shares it owned. After completing the share purchases during the quarter, FMR LLC currently directly controls 5,311,189 shares in the basic materials industry. The current value of these shares comes to a total of $148,979,000. The amount of Arconic stock that BlackRock Inc. owned as of the end of the first quarter increased by 5.1% compared to the previous quarter. BlackRock Inc. now has 20,311,764 shares of the basic materials company following an additional acquisition of 991,281 during the quarter. This gives the company’s stock a total value of $520,389,000.
Last but not least, during the first three months of this year, Vanguard Group Inc. boosted the percentage of Arconic stock that it held by 7.3%. Following the purchase of 791,501 additional shares throughout the month, Vanguard Group Inc. now holds 11,653,381 shares of the common stock of the basic materials firm. The value of these shares as of right now is 298.559 million dollars. At this time, 95.87% of the company’s shares are held in the ownership of institutions. The United States of America, Canada, China, France, Germany, Hungary, Russia, and the United Kingdom are some countries where Arconic Corporation produces and sells architectural materials made of aluminum sheets, plates, extrusions, and other forms of aluminum. Other countries in which Arconic Corporation operates include China, France, Germany, and Russia. In addition, there are countries such as Russia, Hungary, and the United Kingdom. Rolled Products, Building and Construction Systems, and Extrusions are the three business segments that come together to form the entirety of the corporation. Rolled Products