Review | Preview | Follow Up: Harley-Davidson There were plenty of fireworks at Arconic last week, when the board ousted CEO Klaus Kleinfeld over an indiscreet letter he sent to the head of Elliott Management, an activist investor that is mounting a proxy fight to seat four directors on the company’s board next month, and which had sought Kleinfeld’s exit. Arconic’s shares (ARNC)—and those of its sister company, aluminum producer Alcoa (AA)—have, as we predicted, performed nicely since the two companies split last November, with both rising nearly 40%, compared with the Standard & Poor’s 500 index’s 11% gain (“Aloca’s Split Could Lift Shares 50%,” Dec. 5, 2015). Elliott figures Arconic is worth $45 a share, 73% above its recent price of $26, on a discounted-cash-flow basis.
Jim Cramer is not optimistic regarding Arconic's earnings, but the stock could be a buy on a pullback.
- Zacks•2 days ago
Arconic (ARNC) is slated to release its first-quarter 2017 results after the close on Apr 25.
AA: Summary for Alcoa Corporation - Yahoo Finance
Alcoa Corporation (AA)
NYSE - NYSE Delayed price. Currency in USD
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|Bid||31.68 x 700|
|Ask||32.10 x 1000|
|Day's range||31.65 - 32.55|
|52-week range||20.53 - 39.78|
Trade prices are not sourced from all markets
|PE ratio (TTM)||-14.47|
|Dividend & yield||N/A (N/A)|
|1y target est||N/A|