Arconic rose 19.41% during the afternoon session to $26.43 per share. As reported by Reuters: "Apollo Global in talks to acquire aluminum products maker Arconic ... ..." You can read more about it here. For those of you thinking about investing in the stock, here is a brief look at the company's fundamentals.
Arconic Corporation manufactures and sells aluminum architectural products, plates, extrusions and sheets in the United States, Canada, China, France, Germany, Hungary, Russia, and the United Kingdom. The company belongs to the Consumer Cyclical sector, which has an average price to earnings (P/E) ratio of 22.33 and an average price to book (P/B) ratio of 3.12. In contrast, Arconic has a trailing 12 month P/E ratio of -16.02 and a P/B ratio of 1.413.
Arconic has moved -27.92% over the last year compared to -7.524395% for the S&P 500 -- a difference of -20.4%. Arconic has a 52 week high of $31.24 and a 52 week low of $16.33. At today's price of $26.43 per share, Arconic is 11.26% away from its target price of $23.75, and on average, analysts give the stock a rating of buy. 0.04% of the company's shares are linked to short positions, and 95% of the shares are owned by institutional investors.