Alcoa Corp (AA) Given Average Recommendation of “Buy” by Analysts

Alcoa Corp (NYSE:AA) has been assigned a consensus rating of “Buy” from the twenty research firms that are presently covering the stock. Five investment analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $36.60.

AA has been the subject of several recent research reports. Vetr raised shares of Alcoa Corp from a “strong sell” rating to a “sell” rating and set a $33.09 price target for the company in a research note on Tuesday, January 24th. Zacks Investment Research downgraded shares of Alcoa Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Berenberg Bank raised shares of Alcoa Corp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $27.00 to $40.00 in a research note on Friday, March 24th. Goldman Sachs Group Inc raised shares of Alcoa Corp from a “neutral” rating to a “buy” rating in a research note on Monday, March 6th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $35.00 price target on shares of Alcoa Corp in a research note on Wednesday, March 22nd.

Shares of Alcoa Corp (NYSE:AA) opened at 32.16 on Friday. The firm has a 50-day moving average price of $32.82 and a 200-day moving average price of $32.58. The firm has a market cap of $5.91 billion and a price-to-earnings ratio of 171.06. Alcoa Corp has a 12-month low of $20.00 and a 12-month high of $39.78.

Alcoa Corp (NYSE:AA) last posted its quarterly earnings results on Monday, April 24th. The industrial products company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.96 billion. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. Equities research analysts anticipate that Alcoa Corp will post $2.85 EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. HL Financial Services LLC boosted its position in shares of Alcoa Corp by 157.0% in the third quarter. HL Financial Services LLC now owns 37,268 shares of the industrial products company’s stock valued at $378,000 after buying an additional 22,768 shares in the last quarter. IMS Capital Management boosted its position in shares of Alcoa Corp by 3.3% in the third quarter. IMS Capital Management now owns 40,397 shares of the industrial products company’s stock valued at $410,000 after buying an additional 1,307 shares in the last quarter. Bollard Group LLC boosted its position in shares of Alcoa Corp by 0.3% in the third quarter. Bollard Group LLC now owns 37,789 shares of the industrial products company’s stock valued at $383,000 after buying an additional 110 shares in the last quarter. Concert Wealth Management Inc. boosted its position in shares of Alcoa Corp by 157.9% in the third quarter. Concert Wealth Management Inc. now owns 71,307 shares of the industrial products company’s stock valued at $716,000 after buying an additional 43,663 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of Alcoa Corp by 3.0% in the third quarter. Great West Life Assurance Co. Can now owns 1,077,655 shares of the industrial products company’s stock valued at $10,909,000 after buying an additional 31,291 shares in the last quarter.

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About Alcoa Corp

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.

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