Arconic Corporation [ARNC] moved up 19.48: Why It’s Important

Arconic Corporation [NYSE: ARNC] traded at a high on 02/28/23, posting a 19.48 gain after which it closed the day’ session at $26.44. The company report on February 21, 2023 that Arconic Reports Fourth Quarter 2022 and Full Year 2022 Results.

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Fourth Quarter 2022 Highlights.

Sales of $1.9 billion, down 9% year over year, up 2% organically.

The results of the trading session contributed to over 7805111 shares changing hands. Over the past one week, the price volatility of Arconic Corporation stands at 9.79% while the volatility over the past one month is 5.58%.

The market cap for ARNC stock reached $2.79 billion, with 101.20 million shares outstanding and 98.41 million shares in the current float. Compared to the average trading volume of 762.02K shares, ARNC reached a trading volume of 7805111 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $23.75 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.

Goldman have made an estimate for Arconic Corporation shares, keeping their opinion on the stock as Sell, with their previous recommendation back on February 28, 2023. While these analysts kept the previous recommendation, Deutsche Bank dropped their target price from $23 to $22. The new note on the price target was released on November 04, 2022, representing the official price target for Arconic Corporation stock. Previously, the target price had yet another raise from $35 to $40, while JP Morgan kept a Overweight rating on ARNC stock.

The Average True Range (ATR) for Arconic Corporation is set at 1.39, with the Price to Sales ratio for ARNC stock in the period of the last 12 months amounting to 0.31. The Price to Book ratio for the last quarter was 1.97, with the Price to Cash per share for the same quarter was set at 2.48. Price to Free Cash Flow for ARNC in the course of the last twelve months was 29.97 with Quick ratio for the last quarter at 0.70.

How has ARNC stock performed recently?

Arconic Corporation [ARNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.37. With this latest performance, ARNC shares gained by 13.09% in over the last four-week period, additionally plugging by 0.15% over the last 6 months – not to mention a drop of -16.30% 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 64.75, with the RSI for the last a single of trading hit 68.51, and the three-weeks RSI is set at 62.38 for Arconic Corporation [ARNC]. The present Moving Average for the last 50 days of trading for this stock 22.84, while it was recorded at 23.33 for the last single week of trading, and 24.18 for the last 200 days.

Arconic Corporation [ARNC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Arconic Corporation [ARNC] shares currently have an operating margin of +4.37 and a Gross Margin at +7.55. Arconic Corporation’s Net Margin is presently recorded at -2.04.

Return on Equity for this stock declined to -12.54, with Return on Assets sitting at -2.89.

Arconic Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.50.

Earnings analysis for Arconic Corporation [ARNC]

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%.

Insider trade positions for Arconic Corporation [ARNC]

There are presently around $2,476 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 19,901,242, which is approximately 2.552% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 11,901,158 shares of the stock with an approximate value of $314.67 million in ARNC stocks shares; and FMR LLC, currently with $187.91 million in ARNC stock with ownership of nearly 11.608% of the company’s market capitalization.

Positions in Arconic Corporation stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 124 institutional holders increased their position in Arconic Corporation [NYSE:ARNC] by around 5,296,224 shares. Additionally, 131 investors decreased positions by around 9,770,524 shares, while 71 investors held positions by with 78,573,933 shares. The mentioned changes placed institutional holdings at 93,640,681 shares, according to the latest SEC report filing. ARNC stock had 52 new institutional investments in for a total of 2,159,875 shares, while 34 institutional investors sold positions of 3,929,915 shares during the same period.


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