Arconic (NYSE:ARNC) Downgraded by Zacks Investment Research to Strong Sell

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Arconic stock has undergone multiple analysts rating changes in the recent past.  Arconic Downgraded by Zacks Investment Research on 10/14/2021. In a note to investors, the firm issued a new rating of Strong Sell. The analysts previously had rating of Hold.

Shares of Arconic traded up $0.14 on Thursday, reaching $31.39. 498923 shares of the stock traded hands, compared to its average volume of 680152. Shares of Arconic were trading at $31.39 on Thursday. The firm’s 50 day moving average is $33.53 and its 200 day moving average is $31.39.Arconic has a 12 month low of $31.11 and a 12 month high of $38.49. While on yearly highs and lows, Arconic’s today has traded high as $32.06 and has touched $31.11 on the downward trend. See More Analyst Rating at: RATING

Arconic Earnings and What to expect: 

Arconic last announced its earnings data on August 2nd, 2021. The basic materials company reported ($3.89) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by $4.36. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. Its quarterly revenue was up 51.7% compared to the same quarter last year. Arconic has generated $0.36 earnings per share over the last year (($3.97) diluted earnings per share). Earnings for Arconic are expected to grow by 92.76% in the coming year, from $1.52 to $2.93 per share. Arconic has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, November 4th, 2021 based off prior year’s report dates.

Earnings for Arconic are expected to grow by 92.76% in the coming year, from $1.52 to $2.93 per share. The P/E ratio of Arconic is -7.91, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Arconic is -7.91, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Arconic has a P/B Ratio of 2.37. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Arconic (NYSE:ARNC) Moving Average Technical Analysis

5 day Moving Average is $31.18 And 5 day price change is -$0.47 (-1.48%)  with average volume for 5 day average is 493,500. While technical analysis for average 20 days shows significant difference, 20 day moving average is  $31.68 and 20 day price change is -$1.58 (-4.79%) and average 20 day moving volume is 670,960. 50 day moving average is $33.53  and 50 day price change is -$0.36 ( -1.13%)  and with average volume for 50 days is : 652,110. 200 day moving average is $31.39  and 200 day price change is $2.53 (8.77%)  and with average volume for 200 days is : 881,109.

Other owners latest trading in Arconic :

  • On 10/14/2021 shares held by WealthTrust Axiom LLC were 20,527 which equates to market value of $0.65M and appx 0.20% owners of Arconic
  • On 10/12/2021 shares held by Louisiana State Employees Retirement System were 52,700 which equates to market value of $1.66M and appx 0.00% owners of Arconic
  • On 10/7/2021 shares held by State of Alaska Department of Revenue were 79,785 which equates to market value of $2.52M and appx 0.00% owners of Arconic
  • In total Institutional ownership equates to Institutional Ownership Percentage: 94.42% for Arconic

See More Analyst Rating at: RATING