Alcoa Corp (AA) Sets New 12-Month High at $49.68
Shares of Alcoa Corp (NYSE:AA) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $49.68 and last traded at $49.69, with a volume of 3,338,534 shares traded. The stock had previously closed at $47.93.
A number of analysts have recently issued reports on AA shares. Deutsche Bank AG raised shares of Alcoa Corp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $60.00 in a research note on Tuesday, September 12th. Citigroup Inc. restated a “buy” rating and issued a $45.00 target price on shares of Alcoa Corp in a report on Saturday, July 22nd. BMO Capital Markets raised their target price on shares of Alcoa Corp from $45.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, September 13th. Zacks Investment Research upgraded shares of Alcoa Corp from a “hold” rating to a “strong-buy” rating and set a $51.00 target price for the company in a report on Wednesday, September 6th. Finally, Morgan Stanley restated an “overweight” rating on shares of Alcoa Corp in a report on Friday, July 21st. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $49.88.
The company’s 50 day moving average is $46.42 and its 200 day moving average is $46.42. The firm has a market capitalization of $9.17 billion and a price-to-earnings ratio of 56.61.
Alcoa Corp (NYSE:AA) last announced its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.05). The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. Alcoa Corp had a return on equity of 4.91% and a net margin of 2.61%. Alcoa Corp’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. On average, equities analysts predict that Alcoa Corp will post $3.15 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. State of Wisconsin Investment Board increased its holdings in Alcoa Corp by 9.5% during the 2nd quarter. State of Wisconsin Investment Board now owns 146,169 shares of the industrial products company’s stock valued at $4,772,000 after purchasing an additional 12,650 shares in the last quarter. Bank of Montreal Can increased its holdings in Alcoa Corp by 18.2% during the 2nd quarter. Bank of Montreal Can now owns 1,184,271 shares of the industrial products company’s stock valued at $38,666,000 after purchasing an additional 182,736 shares in the last quarter. Rhumbline Advisers increased its holdings in Alcoa Corp by 14.3% during the 2nd quarter. Rhumbline Advisers now owns 172,839 shares of the industrial products company’s stock valued at $5,643,000 after purchasing an additional 21,642 shares in the last quarter. Elliott Management Corp increased its holdings in Alcoa Corp by 14.7% during the 2nd quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock valued at $383,228,000 after purchasing an additional 1,500,000 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in Alcoa Corp during the 2nd quarter valued at $10,324,000.
TRADEMARK VIOLATION NOTICE: “Alcoa Corp (AA) Sets New 12-Month High at $49.68” was first reported by Watch List News and is the property of of Watch List News. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.watchlistnews.com/alcoa-corp-aa-sets-new-12-month-high-at-49-68/1652055.html.
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.
Receive News & Ratings for Alcoa Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.