Arconic Corporation (ARNC) saw an uptrend of 5.01% in the recent, registering $21.39 being its most recent bid. The distance of current price level is -9.75% lower than the highest price of $23.70 marked by the stock while trading over the past 52-weeks, whereas it is 268.79% higher than the lowest price of $5.80 the company dropped to over past 52-weeks. The latest news story on ARNC appeared in MarketWatch under the title “Dow down more than 600 points, Nasdaq slumps nearly 5% as Apple leads tech selloff” on Sep-03-20.
Squeezing the time span to 30 day period shows us the stock currently buoying -4.30% below one month high and is +17.85% above of the lowest during that time. Looking into the simple moving average, Arconic Corporation (ARNC)’s stock is currently standing at a SMA-50 of $20.63 while that of 5-day is reading $20.16.
Coming around sales and income figures, publically trading companies under normal circumstances post earnings and revenues near to average estimates by the Wall Street analysts, but those could came either above or below estimates and known as surprise factor. Arconic Corporation (ARNC) releasing its most recent results for the quarter ended 6/29/2020 posted a surprise factor of -425.00% for net revenue. During the reported three-month period, company’s sales were $1.19 billion while analysts on average were estimating the same to be $1.39 billion.
Looking into the perspective of Arconic Corporation (NYSE:ARNC)’s current quarter earnings identifies that analysts are in consensus over the estimate of -0.16 for stock’s EPS in the current quarter. 3 analysts covering the stock at Wall Street were agreed upon that EPS consensus. Company’s EPS for the last quarter was -0.84.
Investors get the exact data about the key information of institutional ownership in a listed company through its 13F filings at the Stock Exchange Commission (SEC). Institutions currently hold 109.00 million of ARNC’s outstanding shares. That indicates a holding of about 93.60% or $705.87 of worth by institutional holders in the company.
Moreover, the latest SEC filings also revealed that stock came across 0 new insider purchases involving 0 shares. On the other hand, ARNC declared 0 shares have been sold in 0 insider transactions over the past three months.
As on Jun 29, 2020, Orbis Allan Gray Ltd was the top most holder in Arconic Corporation (NYSE:ARNC) with an ownership of 16.58 million shares of the company or 15.20% of the stake worth $230.92 million. The filing also reveals Blackrock Inc. as the second largest holder in the company with a control over 15.00% of the stake or worth of $227.84 million for having 16.36 million shares in hand.
Elliott Investment Management L.P. also came increasing its position in the company during the recent quarter and it now holds 9.53% of the outstanding shares. With this there are now 33 institutions which have been in possession of ARNC’s shares.
Investors are for sure keenly observing the recommendations of analysts at Wall Street about the Arconic Corporation And review of current evaluations agreed by the analysts discloses a Buy rating for ARNC. The simple numeric range of brokerage firm referenced at the scale of 1 to 5 reads a current average recommendation of 2.00 for the stock. Lower value of between 1 and 2 implies a Buy recommendation whereas the value in the range of above 4 suggests Hold while below 1 recommends the investors to Sell the stock. Currently, the stock has been recommended as Moderate Buy by 3 of the Wall Street analysts.
The liquidity is a key characteristic of any stock and is the main point of focus of both short-term as well as long term investors before start trading into a stock. In recently reported quarter, liquidity recorded by Arconic Corporation was 1.07 while posting a debt to equity ratio of 0.00. The count was 12.75 for long-term debt to equity ratio.
The rising figure indicates that ARNC came strengthening itself from within over the past one year. A comparison of company’s ROE with that of the Metal Fabrication industry and with the broader scale at the Industrials sector level shows that industry’s average ROE is 5.18.