Arconic Inc. (NYSE:ARNC) registered a 1.29% increase, still its new closing price is 49.58% up from the company’s 1 year high of 25.58.It posted 2.80% gains in previous 5 sessions and is now the subject of 4 analysts who together assign a hold rating on stock. 1 of Wall Street analysts have an underperform rating; the 0 sells versus 3 buy or better ratings. The 9 stock analysts following this company have an average price target at $23.20, with individual PT in the $20.00-$27.00 range. The shares moved at $22.79, implying that brokerage firms see shares gaining about 42.73% in twelve months time.
Arconic Inc. (ARNC) SEC Form 4 News
The stock is getting much attention these days as insiders are adding shares while they posted a 22.92% rise year to date. A 10% Owner at Arconic Inc. (ARNC) acquired shares in a transaction closed on Friday January 27, 2017. ELLIOTT ASSOCIATES, L.P. bought 256,000 shares in the company at $22.63 each and collected $5,793,000 in proceeds. ELLIOTT ASSOCIATES, L.P. now owns 14,688,682 shares in the company after this transaction. A 10% Owner in the company, ELLIOTT INTERNATIONAL, L.P., disclosed a transaction on Friday January 27, 2017 that ended up paying $12,310,001 from the purchase of 544,000 shares at $22.63 per share.
Arconic Inc. (NYSE:ARNC) Upcoming Results on Tap
Arconic Inc. will next provide financial results for the March 2017 quarter. Stock analysts expect it to report per-share earnings of $0.27 in that period. Sales during the quarter are predicted to arrive at $2.98 billion.
Earnings surprise history: Last quarter, the company posted approximately $5.21 billion in revenue and EPS of $0.32. The mean forecast was for $5.31 billion and $0.35 a share, respectively. One quarter earlier, revenue for the stock was at $5.3 billion, with earnings at $0.45/share.
Arconic Inc. (ARNC) Brokerage Update
Arconic Inc. (ARNC) is in Argus’s research list so their analyst rating change is noteworthy. These shares were upgraded to Buy from Hold by Argus, according to news reported on Thursday December 08, 2016. Over the last six months and over the last three months, the shares of Arconic Inc. (ARNC), have changed -2.42% and 7.72%, respectively.