Cowen & Co. Sticks to Its Buy Rating for Arconic (ARNC)

In a report released yesterday, Gautam Khanna from Cowen & Co. maintained a Buy rating on Arconic (ARNC), with a price target of $33.00. The company’s shares closed last Monday at $32.81, close to its 52-week high of $32.96.

According to, Khanna is a 5-star analyst with an average return of 15.2% and a 75.8% success rate. Khanna covers the Consumer Goods sector, focusing on stocks such as L3Harris Technologies, Albany International, and Huntington Ingalls.

Arconic has an analyst consensus of Moderate Buy, with a price target consensus of $34.67, representing an 8.2% upside. In a report issued on January 28, Credit Suisse also maintained a Buy rating on the stock with a $43.00 price target.

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Based on Arconic’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.4 billion and net profit of $309 million. In comparison, last year the company earned revenue of $3.47 billion and had a net profit of $218 million.

Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARNC in relation to earlier this year.

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Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.

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