Arconic Corporation [ARNC] is -35.90% lower this YTD. Is it still time to buy?

Arconic Corporation [NYSE: ARNC] stock went on a downward path that fall over -0.24% on Friday, amounting to a one-week price decrease of less than -0.66%. The company report on November 16, 2022 that Arconic Announces $200 Million Share Repurchase Authorization.

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Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) announced today that its Board of Directors approved a two-year share repurchase program authorizing the repurchase of up to $200 million of common stock.

Tim Myers, Chief Executive Officer, said, “We continue to view share repurchases as a high-return capital allocation opportunity for the Company and its shareholders. Following the completion of our first $300 million repurchase authorization in the third quarter of 2022, this new program demonstrates our commitment to our long-term strategy and growth outlook. We have confidence in our ability to fund both our organic growth capital investment plans and retire shares at opportunistic levels.”.

Over the last 12 months, ARNC stock dropped by -35.66%. The one-year Arconic Corporation stock forecast points to a potential upside of 11.83. The average equity rating for ARNC stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.15 billion, with 102.30 million shares outstanding and 100.52 million shares in the current float. Compared to the average trading volume of 787.34K shares, ARNC stock reached a trading volume of 327756 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $24.00 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 2.20. 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 Hold, with their previous recommendation back on November 04, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price from $35 to $40. The new note on the price target was released on December 10, 2021, representing the official price target for Arconic Corporation stock. Previously, the target price had yet another raise to $42, while Wolfe Research analysts kept a Outperform rating on ARNC stock.

The Average True Range (ATR) for Arconic Corporation is set at 0.87, with the Price to Sales ratio for ARNC stock in the period of the last 12 months amounting to 0.24. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 3.07. Price to Free Cash Flow for ARNC in the course of the last twelve months was 215.24 with Quick ratio for the last quarter at 0.80.

ARNC Stock Performance Analysis:

Arconic Corporation [ARNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.66. With this latest performance, ARNC shares dropped by -11.20% in over the last four-week period, additionally sinking by -25.28% over the last 6 months – not to mention a drop of -35.66% in the past year of trading.

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 47.37, with the RSI for the last a single of trading hit 45.92, and the three-weeks RSI is set at 48.28 for Arconic Corporation [ARNC]. The present Moving Average for the last 50 days of trading for this stock 21.22, while it was recorded at 21.12 for the last single week of trading, and 24.67 for the last 200 days.

Insight into Arconic Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Arconic Corporation [ARNC] shares currently have an operating margin of +5.29 and a Gross Margin at +9.04. Arconic Corporation’s Net Margin is presently recorded at -5.29.

Return on Equity for this stock declined to -26.66, with Return on Assets sitting at -6.16.

Arconic Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.70.

ARNC Stock EPS

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 12.66%.

Arconic Corporation [ARNC] Insider Position Details

There are presently around $2,077 million, or 97.50% of ARNC stock, in the hands of institutional investors. The top three institutional holders of ARNC stocks are: BLACKROCK INC. with ownership of 19,405,910, which is approximately -6.277% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 11,898,182 shares of the stock with an approximate value of $251.77 million in ARNC stocks shares; and FMR LLC, currently with $134.75 million in ARNC stock with ownership of nearly 19.899% of the company’s market capitalization.

Positions in Arconic Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 110 institutional holders increased their position in Arconic Corporation [NYSE:ARNC] by around 4,869,397 shares. Additionally, 146 investors decreased positions by around 7,583,690 shares, while 75 investors held positions by with 85,696,368 shares. The mentioned changes placed institutional holdings at 98,149,455 shares, according to the latest SEC report filing. ARNC stock had 43 new institutional investments in for a total of 1,483,291 shares, while 49 institutional investors sold positions of 634,923 shares during the same period.

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