Arconic (NYSE:ARNC) Earns Buy Rating from Analysts at Deutsche Bank
Deutsche Bank initiated coverage on shares of Arconic (NYSE:ARNC) in a research report released on Sunday morning, The Fly reports. The brokerage issued a buy rating and a $32.00 price target on the basic materials company’s stock.
Other analysts have also recently issued reports about the stock. Credit Suisse Group assumed coverage on shares of Arconic in a research report on Wednesday, May 20th. They set an outperform rating and a $22.00 price target for the company. Benchmark reaffirmed a buy rating and set a $27.00 price target on shares of Arconic in a research report on Wednesday, September 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Arconic has a consensus rating of Hold and a consensus price target of $27.40.
Shares of NYSE ARNC opened at $21.29 on Friday. Arconic has a 52-week low of $5.80 and a 52-week high of $23.70. The firm has a fifty day moving average of $20.82 and a 200-day moving average of $16.03. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.85 and a quick ratio of 1.23.
A number of large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its position in Arconic by 14.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 10,480 shares of the basic materials company’s stock valued at $169,000 after buying an additional 1,324 shares during the last quarter. Cresset Asset Management LLC raised its stake in shares of Arconic by 9.3% in the 2nd quarter. Cresset Asset Management LLC now owns 18,905 shares of the basic materials company’s stock valued at $263,000 after purchasing an additional 1,612 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Arconic by 3.3% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 55,423 shares of the basic materials company’s stock valued at $890,000 after purchasing an additional 1,752 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Arconic by 31.5% in the 1st quarter. Mackenzie Financial Corp now owns 10,023 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 2,399 shares in the last quarter. Finally, Watson Rebecca acquired a new stake in shares of Arconic in the 2nd quarter valued at about $41,000. 86.65% of the stock is owned by institutional investors.
Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions segment 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 for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.
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