Alcoa Corp (AA) Receives $33.69 Average PT from Analysts

Alcoa Corp (NYSE:AA) has received an average recommendation of “Buy” from the twenty brokerages that are presently covering the firm. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $36.60.

Several brokerages have issued reports on AA. Cowen and Company lifted their price objective on Alcoa Corp from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday. BMO Capital Markets reiterated a “hold” rating and issued a $35.00 price objective on shares of Alcoa Corp in a research report on Wednesday, March 22nd. Zacks Investment Research downgraded Alcoa Corp from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 3rd. Berenberg Bank upgraded Alcoa Corp from a “hold” rating to a “buy” rating and lifted their price objective for the company from $27.00 to $40.00 in a research report on Friday, March 24th. Finally, Vetr upgraded Alcoa Corp from a “strong sell” rating to a “sell” rating and set a $33.09 price objective for the company in a research report on Tuesday, January 24th.

In other Alcoa Corp news, EVP Jeffrey D. Heeter sold 3,748 shares of the business’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $37.52, for a total value of $140,624.96. Following the completion of the transaction, the executive vice president now directly owns 33,503 shares of the company’s stock, valued at $1,257,032.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Arconic Inc. sold 23,353,000 shares of the business’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $38.03, for a total value of $888,114,590.00. Following the completion of the transaction, the insider now directly owns 12,958,767 shares of the company’s stock, valued at $492,821,909.01. The disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently bought and sold shares of AA. Piedmont Investment Advisors LLC purchased a new position in Alcoa Corp during the third quarter valued at $23,707,000. Pioneer Investment Management Inc. boosted its position in Alcoa Corp by 102.9% in the third quarter. Pioneer Investment Management Inc. now owns 1,680,543 shares of the industrial products company’s stock valued at $17,041,000 after buying an additional 852,224 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in Alcoa Corp by 21.3% in the third quarter. Chartwell Investment Partners LLC now owns 603,625 shares of the industrial products company’s stock valued at $6,121,000 after buying an additional 105,869 shares in the last quarter. National Asset Management Inc. boosted its position in Alcoa Corp by 29.2% in the third quarter. National Asset Management Inc. now owns 50,757 shares of the industrial products company’s stock valued at $516,000 after buying an additional 11,473 shares in the last quarter. Finally, Virtus Investment Advisers Inc. purchased a new position in Alcoa Corp during the third quarter valued at $14,727,000.

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Alcoa Corp (NYSE:AA) traded down 1.06% during mid-day trading on Monday, reaching $31.70. 5,041,860 shares of the company’s stock were exchanged. The company’s market capitalization is $5.84 billion. The company’s 50 day moving average price is $33.89 and its 200-day moving average price is $31.21. Alcoa Corp has a 52 week low of $20.00 and a 52 week high of $39.78.

Alcoa Corp (NYSE:AA) last issued its quarterly earnings data on Tuesday, January 24th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.08. The business earned $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts expect that Alcoa Corp will post $2.63 earnings per share for the current fiscal year.

Alcoa Corp Company Profile

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.

5 Day Chart for NYSE:AA

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