Arconic - ARNC Stock Forecast, Price & News

Arconic Corporation manufactures and sells aluminum sheets, plates, extrusions, and architectural products in the United States, Canada, China, France, Germany, Hungary, Russia, the United Kingdom, and internationally. It operates through three segments: Rolled Products, Building and Construction Systems, and Extrusions. The Rolled Products segment provides a range of aluminum sheet and plate products for ground transportation, aerospace, industrial, and packaging markets; and roofing, architectural composite panels, ventilated facades and ceiling panels, spacers, culvert pipes, and gutters for building and construction markets. The Building and Construction Systems segment provides various products and building envelope solutions, such as entrances, curtain walls, windows, composite panels, and coil coated sheets for fabricators and glazing subcontractors under the Kawneer, Reynobond, and Reynolux brands. The Extrusions segment offers extruded products, including aerospace shapes, automotive shapes, seamless tubes, hollows, mortar fins, and high strength rods and bars for ground transportation, aerospace, and industrial markets. The company offers its products directly to customers, as well as through distributors. The company was formerly known as Arconic Rolled Products Corporation and changed its name to Arconic Corporation in April 2020. Arconic Corporation was founded in 1888 and is headquartered in Pittsburgh, Pennsylvania.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Arconic from $32.00 to $36.00 and gave the company a "neutral" rating in a report on Wednesday, June 8th. StockNews.com upgraded shares of Arconic from a "hold" rating to a "buy" rating in a report on Wednesday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Arconic from $40.00 to $34.00 in a report on Thursday, May 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Arconic Price Performance

Shares of ARNC opened at $28.66 on Friday. Arconic has a twelve month low of $22.45 and a twelve month high of $36.55. The stock's 50 day moving average is $28.11 and its two-hundred day moving average is $27.73. The firm has a market capitalization of $2.94 billion, a PE ratio of 23.11 and a beta of 1.60. The company has a current ratio of 1.63, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88.

Arconic (NYSE:ARNC - Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The basic materials company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.33. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.42 billion. Arconic had a return on equity of 9.28% and a net margin of 1.53%. The company's quarterly revenue was up 41.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. Research analysts anticipate that Arconic will post 2.81 earnings per share for the current year.

Insider Transactions at Arconic

In related news, EVP Melissa M. Miller sold 31,122 shares of the company's stock in a transaction on Monday, August 8th. The shares were sold at an average price of $28.28, for a total transaction of $880,130.16. Following the completion of the sale, the executive vice president now directly owns 66,926 shares of the company's stock, valued at approximately $1,892,667.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.79% of the company's stock.