The Goldman Sachs Group Inc. Initiates Coverage on Arconic (ARNC)

The Goldman Sachs Group Inc. Initiates Coverage on Arconic (ARNC)

Stock analysts at Goldman Sachs Group Inc. initiated coverage on shares of Arconic (NASDAQ:ARNC) in a research note issued on Wednesday. The firm set a “sell” rating and a $23.00 price target on the stock. Goldman Sachs Group Inc.’s price objective suggests a potential upside of 12.03% from the company’s current price.

Separately, Macquarie assumed coverage on shares of Arconic in a research report on Tuesday, November 1st. They issued a “neutral” rating and a $21.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $21.00.

Shares of Arconic (NASDAQ:ARNC) traded up 1.23% on Wednesday, reaching $20.53. The company’s stock had a trading volume of 2,575,151 shares. The stock has a 50-day moving average of $19.83 and a 200 day moving average of $21.67. The stock’s market capitalization is $9.00 billion. Arconic has a 1-year low of $13.81 and a 1-year high of $25.86.

The business also recently disclosed a special dividend, which was paid on Friday, November 25th. Stockholders of record on Friday, November 11th were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, November 8th.

Related posts

Leave a Comment