The Arconic Inc (NASDAQ:ARNC) Earns "Hold" Rating from Cowen and Company

Shares last traded at $24.39 marginally under $26.65, the 50 day moving average and barely below the 200 day moving average of $25.51. Clearbridge Investments LLC boosted its stake in Arconic by 8.0% in the first quarter. The fund purchased 97,992 shares of the basic materials company's stock, valued at approximately $2,581,000.

Shares of Arconic Inc (NASDAQ:ARNC) opened at 25.12 on Thursday.

Arconic Inc. has a 10.94B market cap and its past year revenues were 12.53B. Dai Ichi Life Insurance Company Ltd bought a new position in shares of Arconic during the first quarter worth approximately $221,000. Private Capital Advisors Inc. boosted its stake in shares of Arconic by 153.3% in the second quarter.

Other institutional investors have also added to or reduced their stakes in the company.

Municipal Employees Retirement System of Michigan's holdings in Arconic were worth $368,000 at the end of the most recent quarter. Wilbanks Smith & Thomas Asset Management LLC bought a new stake in shares of Arconic during the first quarter worth $228,000. Levin Capital Strategies L.P. now owns 48,323 shares of the basic materials company's stock valued at $1,273,000 after buying an additional 4,890 shares during the period.

Let's talk about the gap between analyst price targets for the next 12 months and Arconic Inc.

Arconic (NASDAQ:ARNC) last released its quarterly earnings data on Tuesday, April 25th.

As of the last earnings report the EPS was $-1.60 and is expected to be $1.16 for the current year with 440,826,000 shares now outstanding. After $0.33 actual EPS reported by Arconic Inc for the previous quarter, Wall Street now forecasts -18.18 % negative EPS growth. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3 billion. That value represents a market adjusting for revenues that have been growing by 4.48 % on a quarterly year/year basis as of the company's last quarterly report. Inc. purchased a new stake in shares of Arconic during the first quarter valued at approximately $25,900,000. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating.

ILLEGAL ACTIVITY WARNING: "Arconic's (NASDAQ:ARNC) Neutral Rating Reiterated at J P Morgan Chase & Co" was posted by Transcript Daily and is the sole property of of Transcript Daily.

6/20/2017 - Arconic was upgraded by analysts at Zacks Investment Research from a "hold" rating to a "buy" rating.

The Target Price for Arconic Inc (NYSE:ARNC) is $28.4/share according to the consensus analysis of analysts working on the stock. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & worldwide copyright and trademark laws. Vetr raised Arconic from a "sell" rating to a "hold" rating and set a $27.00 price objective on the stock in a research report on Monday, May 29th. Longbow initiated Arconic Inc (NYSE:ARNC) on Friday, March 31 with "Neutral" rating. The legal version of this article can be read at Arconic presently has an average rating of "Hold" and a consensus target price of $26.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher L. Ayers acquired 7,325 shares of the business's stock in a transaction dated Friday, May 26th.

In related news, Director Patrice E. Merrin acquired 10,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average price of $27.31 per share, with a total value of $200,045.75. After this purchase, 34,749,450 common shares of ARNC are directly owned by the insider, with total stake valued at $860,048,888. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 41,877,016 shares of the stock are valued at $1.05 billion. The disclosure for this purchase can be found here. The Firm operates through three divisions: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company's multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.

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