The incline in Arconic Corporation (ARNC) stock price is a huge buying opportunity

Arconic Corporation (NYSE: ARNC) is 330.64% higher on its value in year-to-date trading and has touched a low of $5.80 and a high of $31.59 in the current 52-week trading range. The ARNC stock was last observed hovering at around $29.55 in the last trading session, with the day’s gains setting it 0.25% off its average median price target of $32.00 for the next 12 months. It is also 12.35% off the consensus price target high of $34.00 offered by 3 analysts, but current levels are 6.87% higher than the price target low of $32.00 for the same period.

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Currently trading at $29.80, the stock is 0.71% and 8.55% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.98 million and changing 0.85% at the moment leaves the stock 56.52% off its SMA200. ARNC registered a gain of 128.00% in past 6-months. The firm has a 50-day simple moving average (SMA 50) of $29.30 and a 200-day simple moving average (SMA200) of $22.22.

The stock witnessed a 0.30% loss in the last 1 month and extending the period to 3 months gives it a 58.26%, and is 3.94% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.72% over the week and 4.56% over the month.

Arconic Corporation (ARNC) has around 15400 employees, a market worth around $3.23B and $5.92B in sales. Current P/E ratio is 23.07 and Fwd P/E is 14.84. Profit margin for the company is 0.30%. Distance from 52-week low is 413.79% and -5.67% from its 52-week high. The company has generated returns on investments over the last 12 months (10.10%).

Arconic Corporation (ARNC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Arconic Corporation (ARNC) is a “Buy”. 3 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Arconic Corporation is expected to release its quarterly report on 05/24/2021 and quarterly earnings per share for the current quarter are estimated at $0.32 with sales reaching $1.46B over the same period.The EPS is expected to grow by 31.80% this year.

Arconic Corporation (ARNC) Top Institutional Holders

356 institutions hold shares in Arconic Corporation (ARNC), with 817.5k shares held by insiders accounting for 0.75% while institutional investors hold 95.40% of the company’s shares. The shares outstanding are 109.00M, and float is at 108.33M with Short Float at 2.36%. Institutions hold 94.69% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 15.75 million shares valued at $300.03 million. The investor’s holdings represent 14.43% of the ARNC Shares outstanding. As of Sep 29, 2020, the second largest holder is Orbis Allan Gray Ltd with 14.03 million shares valued at $267.22 million to account for 12.85% of the shares outstanding. The other top investors are Elliott Investment Management L.P. which holds 10.39 million shares representing 9.52% and valued at over $197.96 million, while Vanguard Group, Inc. (The) holds 5.84% of the shares totaling 6.38 million with a market value of $121.52 million.

Arconic Corporation (ARNC) Insider Activity

The most recent transaction is an insider purchase by Austen William F., the company’s Director. SEC filings show that Austen William F. bought 17,620 shares of the company’s common stock on May 21 at a price of $11.46 per share for a total of $0.2 million. Following the purchase, the insider now owns 33460.0 shares.

Arconic Corporation disclosed in a document filed with the SEC on May 21 that Henderson Frederick A. (Director) bought a total of 2,900 shares of the company’s common stock. The trade occurred on May 21 and was made at $10.99 per share for $31870.0. Following the transaction, the insider now directly holds 49047.0 shares of the ARNC stock.

Still, SEC filings show that on May 20, ASMUSSEN ERICK R (EVP & CFO) acquired 20,000 shares at an average price of $9.94 for $0.2 million. The insider now directly holds 90,222 shares of Arconic Corporation (ARNC).

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