Arconic Inc (NYSE:ARNC) shares were down 1.5% during mid-day trading on Tuesday . The stock traded as low as $21.53 and last traded at $22.04. Approximately 171,902 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 2,666,305 shares. The stock had previously closed at $21.72.

Several research analysts have recently issued reports on ARNC shares. Longbow Research cut shares of Arconic from a “buy” rating to a “neutral” rating in a report on Monday, September 17th. They noted that the move was a valuation call. ValuEngine upgraded shares of Arconic from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 12th. Morgan Stanley set a $20.00 target price on shares of Arconic and gave the stock a “hold” rating in a report on Monday, July 16th. Jefferies Financial Group started coverage on shares of Arconic in a report on Monday, July 16th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Cowen restated a “hold” rating and issued a $15.00 target price on shares of Arconic in a report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $24.91.

The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.84 and a beta of 1.31. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.15 and a current ratio of 2.04.

Arconic (NYSE:ARNC) last released its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.08. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.49 billion. Arconic had a negative net margin of 2.55% and a positive return on equity of 12.06%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. equities analysts expect that Arconic Inc will post 1.29 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in ARNC. Canyon Capital Advisors LLC boosted its holdings in Arconic by 91.3% in the first quarter. Canyon Capital Advisors LLC now owns 7,178,000 shares of the basic materials company’s stock valued at $165,381,000 after acquiring an additional 3,425,137 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Arconic by 460.9% in the second quarter. Renaissance Technologies LLC now owns 2,247,400 shares of the basic materials company’s stock valued at $38,228,000 after acquiring an additional 1,846,700 shares in the last quarter. BlackRock Inc. boosted its holdings in Arconic by 4.7% in the second quarter. BlackRock Inc. now owns 35,321,536 shares of the basic materials company’s stock valued at $600,819,000 after acquiring an additional 1,585,480 shares in the last quarter. Robecosam AG boosted its holdings in Arconic by 96.4% in the first quarter. Robecosam AG now owns 1,375,000 shares of the basic materials company’s stock valued at $31,680,000 after acquiring an additional 675,000 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Arconic by 30.1% in the first quarter. Allianz Asset Management GmbH now owns 2,416,570 shares of the basic materials company’s stock valued at $55,678,000 after acquiring an additional 559,644 shares in the last quarter. Institutional investors and hedge funds own 82.94% of the company’s stock.

About Arconic (NYSE:ARNC)

Arconic Inc engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. It operates through three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions produces and sells fastening systems and seamless rolled rings; investment castings, including airfoils and forged jet engine components; and extruded, machined, and formed aircraft parts, as well as various forged, extruded, and machined metal products.

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