Arconic Corporation (NYSE:ARNC) traded at $23.17 at last check on Friday, Oct 16, making an upward move of 0.09% on its previous day’s price.
Looking at the stock we see that its previous close was $23.15 and the beta (5Y monthly) reads 0 with the day’s price range being $22.85 – 23.56. The company has a 12-month trailing PE ratio of 17.19. In terms of its 52-week price range, ARNC has a high of $23.7 and a low of $5.8. The company’s stock has gained about 9.4% over that past 30 days.
Based on estimates by 3 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, none have rated the Arconic Corporation (ARNC) stock as a Hold, while 3 rate it as a Buy. None analysts rate it as outperform while none of them rated it as underperform, whereas none suggests the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the ARNC stock currently stands at 0.36, and the current price level is 13.37% off its SMA20 and 9.03% from its 50-day simple moving average. The RSI (14) is pointing at 62.6 while the volatility over the past week is 4.02% and jumps to 5.72% over the past one month. The beta value is 0, while the average true range (ATR) is currently pointing at 1.15. The average price target for the stock over the next 12 months is $29.67, with the estimates having a low of $27 and a high of $32. These price ends are 16.53% and +38.11% off the current price level respectively, although investors could be excited at the prospect of a +29.48% if the ARNC share price touches on the median price of $30.
Let’s briefly compare Arconic (ARNC) stock to its peers. We find that today’s price change of +0.09% and 0% over the past 12 months for ARNC competes that of Reliance Steel & Aluminum Company (RS), which has seen its stock price rise 0.03% in the latest trading session and is +13.3% over the last one year. Another of its peers Alcoa Corp (AA) has climbed 2.6% today, but is -37.83% down over the past year, while Constellium N.V. (CSTM) is also up 0.09% yet its price remains in the red at 0% over the same period. Reliance has a P/E ratio of 16.17 compared to Arconic’s 17.19 and Alcoa’s 0. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.01% and 0.39%, respectively, in early deals.
Coming back to Arconic Corporation (NYSE:ARNC), we note that the average 3-month trading volume was 853.15 Million, while that of the preceding 10-day period stands at 643.25 Million. Current shares outstanding are 109.07 Million.
According to data from Thomson Reuters, insiders hold 0.69% of the company’s shares while institutions hold 34.62%. The data shows that short shares as of September 29, 2020, stood at 3.78 Million at a short ratio of 4.58. This represents a 3.46% Short interest in Shares outstanding on September 29, 2020. Shares short dropped in September from the previous month at 4.13 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock +234.83% up in year-to-date price movement.