Citigroup Inc. reaffirmed their buy rating on shares of Alcoa Corp (NYSE:AA) in a research report released on Friday. They currently have a $53.00 target price on the industrial products company’s stock.

A number of other analysts have also recently weighed in on AA. Morgan Stanley upped their price target on Alcoa Corp from $47.00 to $54.00 and gave the company a top pick rating in a research report on Monday, September 25th. Berenberg Bank cut Alcoa Corp from a buy rating to a hold rating and upped their price target for the company from $41.00 to $44.00 in a research report on Friday, September 22nd. Zacks Investment Research upgraded Alcoa Corp from a hold rating to a buy rating and set a $50.00 price target on the stock in a research report on Thursday, September 14th. BMO Capital Markets upped their price target on Alcoa Corp from $45.00 to $60.00 and gave the company an outperform rating in a research report on Wednesday, September 13th. Finally, Deutsche Bank AG upgraded Alcoa Corp from a hold rating to a buy rating and upped their price target for the company from $44.00 to $60.00 in a research report on Tuesday, September 12th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $44.63.

Alcoa Corp (NYSE:AA) traded up 1.17% during trading on Friday, reaching $46.62. 3,825,604 shares of the company’s stock were exchanged. The company has a market capitalization of $8.59 billion and a price-to-earnings ratio of 53.04. The stock’s 50-day moving average price is $44.87 and its 200-day moving average price is $44.87. Alcoa Corp has a 52-week low of $20.00 and a 52-week high of $47.95.

Alcoa Corp (NYSE:AA) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.88 billion. Alcoa Corp had a return on equity of 3.29% and a net margin of 1.63%. Alcoa Corp’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. Equities analysts expect that Alcoa Corp will post $2.96 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of AA. Parallel Advisors LLC bought a new position in Alcoa Corp in the first quarter valued at about $133,000. Pacer Advisors Inc. boosted its holdings in Alcoa Corp by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 132 shares during the last quarter. NEXT Financial Group Inc boosted its holdings in Alcoa Corp by 2.4% in the second quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock valued at $146,000 after acquiring an additional 104 shares during the last quarter. Global X Management Co. LLC boosted its holdings in Alcoa Corp by 220.6% in the second quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock valued at $189,000 after acquiring an additional 3,993 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Alcoa Corp by 3.8% in the second quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock valued at $189,000 after acquiring an additional 213 shares during the last quarter.

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.

Analyst Recommendations for Alcoa Corp (NYSE:AA)

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