Arconic Inc (ARNC) Upgraded by Vetr Inc. to “Hold”

Arconic Inc (ARNC) Upgraded by Vetr Inc. to “Hold”

A number of other analysts have also issued reports on the company. Zacks Investment Research lowered Arconic from a buy rating to a hold rating in a report on Monday, May 8th. JPMorgan Chase & Co. lowered Arconic to a neutral rating and set a $30.00 price target for the company. in a report on Wednesday, April 26th. Deutsche Bank AG reiterated a buy rating and issued a $32.00 price target on shares of Arconic in a report on Wednesday, April 19th. Longbow Research assumed coverage on Arconic in a report on Friday, March 31st. They issued a neutral rating for the company. Finally, Cowen and Company reiterated a market perform rating and issued a $25.00 price target on shares of Arconic in a report on Wednesday, March 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Arconic presently has a consensus rating of Hold and an average price target of $25.11.

Vetr upgraded shares of Arconic Inc (NASDAQ:ARNC) from a sell rating to a hold rating in a research note issued to investors on Monday. Vetr currently has $27.00 price target on the basic materials company’s stock.

Arconic (NASDAQ ARNC) opened at 27.20 on Monday. The stock has a 50 day moving average price of $26.94 and a 200-day moving average price of $24.38. The stock’s market cap is $11.99 billion. Arconic has a 1-year low of $16.75 and a 1-year high of $30.69.

Arconic (NASDAQ:ARNC) last announced its quarterly earnings results on Tuesday, April 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3 billion. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts expect that Arconic will post $1.17 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the company. First Financial Equity Corporation bought a new stake in Arconic during the first quarter worth $289,000. Pettee Investors Inc. bought a new stake in Arconic during the first quarter worth $218,000. Dai Ichi Life Insurance Company Ltd bought a new stake in Arconic during the first quarter worth $221,000. Sii Investments Inc. WI bought a new stake in Arconic during the first quarter worth $227,000. Finally, Wilbanks Smith & Thomas Asset Management LLC bought a new stake in Arconic during the first quarter worth $228,000.

Arconic Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ARNC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view Vetr’s full report, visit Vetr’s official website.

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