Arconic Corporation [NYSE: ARNC] surged by $0.44 during the normal trading session on Thursday and reaching a high of $23.93 during the day while it closed the day at $23.75. The company report on August 4, 2020 that Arconic Reports Second Quarter 2020 Results.
Second Quarter 2020 Key Results.
Sales of $1.2 billion, down 38% year over year.
Arconic Corporation stock has also gained 2.59% of its value over the past 7 days. However, ARNC stock has inclined by 45.26% in the 3 months of the year. Over the past six months meanwhile, it has gained 195.40% and gained 243.21% year-on date.
The market cap for ARNC stock reached $2.59 billion, with 109.00 million shares outstanding and 108.25 million shares in the current float. Compared to the average trading volume of 812.86K shares, ARNC reached a trading volume of 1057428 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Arconic Corporation [ARNC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ARNC shares is $31.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ARNC stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Deutsche Bank have made an estimate for Arconic Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 14, 2020. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on September 09, 2020, representing the official price target for Arconic Corporation stock. Previously, the target price had yet another raise to $22, while Credit Suisse analysts kept a Outperform rating on ARNC stock.
The Average True Range (ATR) for Arconic Corporation is set at 1.10, with the Price to Sales ratio for ARNC stock in the period of the last 12 months amounting to 0.41. The Price to Book ratio for the last quarter was 2.26, with the Price to Cash per share for the same quarter was set at 5.46. Price to Free Cash Flow for ARNC in the course of the last twelve months was 1294.02 with Quick ratio for the last quarter at 1.20.
ARNC stock trade performance evaluation
Arconic Corporation [ARNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.59. With this latest performance, ARNC shares gained by 25.73% in over the last four-week period, additionally plugging by 195.40% over the last 6 months .
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ARNC stock in for the last two-week period is set at 63.00, with the RSI for the last a single of trading hit 69.33, and the three-weeks RSI is set at 62.32 for Arconic Corporation [ARNC]. The present Moving Average for the last 50 days of trading for this stock 21.47, while it was recorded at 23.46 for the last single week of trading.
Arconic Corporation [ARNC]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Arconic Corporation [ARNC] shares currently have an operating margin of +5.00 and a Gross Margin at +10.38. Arconic Corporation’s Net Margin is presently recorded at +3.09.
Return on Total Capital for ARNC is now 11.83, given the latest momentum, and Return on Invested Capital for the company is 7.38. Return on Equity for this stock inclined to 8.37, with Return on Assets sitting at 4.72. When it comes to the capital structure of this company, Arconic Corporation [ARNC] has a Total Debt to Total Equity ratio set at 13.96. Additionally, ARNC Total Debt to Total Capital is recorded at 12.25, with Total Debt to Total Assets ending up at 7.99. Long-Term Debt to Equity for the company is recorded at 12.75, with the Long-Term Debt to Total Capital now at 11.19.
Reflecting on the efficiency of the workforce at the company, Arconic Corporation [ARNC] managed to generate an average of $14,610 per employee. Receivables Turnover for the company is 13.80 with a Total Asset Turnover recorded at a value of 1.53.Arconic Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.90.
Earnings per share (EPS) analysis for Arconic Corporation [ARNC] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ARNC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Arconic Corporation go to 48.33%.
Arconic Corporation [ARNC]: Insider Ownership positions
There are presently around $2,539 million, or 93.80% of ARNC stock, in the hands of institutional investors. The top three institutional holders of ARNC stocks are: ORBIS ALLAN GRAY LTD with ownership of 16,577,432, which is approximately New of the company’s market cap and around 1.30% of the total institutional ownership; BLACKROCK INC., holding 16,356,407 shares of the stock with an approximate value of $388.46 million in ARNC stocks shares; and ELLIOTT ASSOCIATES, L.P., currently with $246.8 million in ARNC stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Arconic Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 221 institutional holders increased their position in Arconic Corporation [NYSE:ARNC] by around 92,568,968 shares. Additionally, 54 investors decreased positions by around 4,590,788 shares, while 22 investors held positions by with 9,730,874 shares. The mentioned changes placed institutional holdings at 106,890,630 shares, according to the latest SEC report filing. ARNC stock had 204 new institutional investments in for a total of 90,587,482 shares, while 29 institutional investors sold positions of 855,940 shares during the same period.