Shares of Arconic Inc (NASDAQ:ARNC) have been given a consensus rating of “Buy” by the twelve research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $26.75.

A number of brokerages have recently issued reports on ARNC. Longbow Research upgraded shares of Arconic from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday, August 22nd. Vetr upgraded shares of Arconic to a “strong-buy” rating in a research report on Thursday, July 27th. Seaport Global Securities upgraded shares of Arconic from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, July 13th. J P Morgan Chase & Co upgraded shares of Arconic from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $30.00 to $29.00 in a research report on Monday, July 10th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Arconic in a research note on Friday, June 30th.

Arconic (ARNC) traded up 0.66% on Friday, hitting $24.42. 4,176,900 shares of the company were exchanged. The firm’s market cap is $10.77 billion. The stock has a 50 day moving average price of $24.96 and a 200 day moving average price of $26.15. Arconic has a one year low of $16.75 and a one year high of $30.69.

Arconic (NASDAQ:ARNC) last announced its earnings results on Monday, July 24th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.06. Arconic had a net margin of 6.50% and a return on equity of 14.01%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.18 billion. Arconic’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts forecast that Arconic will post $1.18 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 4th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.98%. The ex-dividend date was Wednesday, August 2nd.

COPYRIGHT VIOLATION NOTICE: “Arconic Inc (ARNC) Given Average Recommendation of “Buy” by Brokerages” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/09/09/arconic-inc-arnc-given-average-recommendation-of-buy-by-brokerages.html.

In related news, Director Elmer L. Doty acquired 6,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $24.51 per share, with a total value of $147,060.00. Following the completion of the transaction, the director now directly owns 4,409 shares of the company’s stock, valued at $108,064.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia F. Russo acquired 15,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were bought at an average cost of $24.57 per share, with a total value of $368,550.00. Following the transaction, the director now directly owns 7,928 shares of the company’s stock, valued at $194,790.96. The disclosure for this purchase can be found here. Insiders acquired 26,000 shares of company stock valued at $640,310 in the last ninety days.

A number of institutional investors and hedge funds have recently made changes to their positions in ARNC. Fiduciary Trust Co. acquired a new position in Arconic during the second quarter worth $111,000. Capstone Investment Advisors Netherlands B.V. boosted its holdings in Arconic by 47.9% during the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,950 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 1,604 shares during the last quarter. BRYN MAWR TRUST Co acquired a new position in Arconic during the second quarter worth $214,000. Wayne Hummer Investments L.L.C. boosted its holdings in Arconic by 8.2% during the second quarter. Wayne Hummer Investments L.L.C. now owns 9,630 shares of the basic materials company’s stock worth $218,000 after purchasing an additional 732 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Arconic by 8.4% during the second quarter. Pacer Advisors Inc. now owns 9,707 shares of the basic materials company’s stock worth $220,000 after purchasing an additional 751 shares during the last quarter.

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 (NASDAQ:ARNC)

Receive News & Ratings for Arconic Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arconic Inc and related companies with MarketBeat.com's FREE daily email newsletter.