Arconic’s (ARNC) “Buy” Rating Reiterated at Seaport Global Securities

Seaport Global Securities reaffirmed their buy rating on shares of Arconic (NYSE:ARNC) in a research report released on Tuesday. They currently have a $32.00 target price on the basic materials company’s stock. Seaport Global Securities also issued estimates for Arconic’s Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.50 EPS, Q1 2019 earnings at $0.42 EPS, Q2 2019 earnings at $0.45 EPS, Q3 2019 earnings at $0.49 EPS, Q4 2019 earnings at $0.47 EPS and FY2019 earnings at $1.82 EPS.

Several other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Arconic from a sell rating to a hold rating in a report on Tuesday, December 26th. Vetr downgraded shares of Arconic from a strong-buy rating to a hold rating and set a $27.98 price target for the company. in a report on Monday, October 9th. Wells Fargo & Co initiated coverage on shares of Arconic in a report on Thursday, January 4th. They set an outperform rating and a $35.00 price target for the company. Cowen reissued a hold rating and set a $25.00 price target on shares of Arconic in a report on Wednesday, January 3rd. Finally, Deutsche Bank set a $31.00 price target on shares of Arconic and gave the company a buy rating in a report on Tuesday, October 24th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $29.77.

Arconic (ARNC) opened at $24.45 on Tuesday. The company has a market cap of $12,083.55, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 0.84 and a beta of 0.93. 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 1-year low of $21.75 and a 1-year high of $31.17.

Arconic (NYSE:ARNC) last released its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.08 billion. Arconic had a negative net margin of 0.57% and a positive return on equity of 11.29%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 earnings per share. equities analysts forecast that Arconic will post 1.5 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, February 25th. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, February 1st. Arconic’s dividend payout ratio (DPR) is -109.09%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank acquired a new stake in Arconic in the third quarter worth about $132,000. Fox Run Management L.L.C. acquired a new stake in Arconic in the fourth quarter worth about $205,000. National Planning Corp acquired a new stake in Arconic in the third quarter worth about $206,000. Pitcairn Co. acquired a new stake in Arconic in the third quarter worth about $209,000. Finally, UMB Bank N A MO acquired a new stake in Arconic in the fourth quarter worth about $212,000. 74.58% of the stock is owned by institutional investors.

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About Arconic

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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