Alcoa Corp (AA) PT Raised to $35.00

Alcoa Corp (NYSE:AA) had its price objective increased by research analysts at Cowen and Company from $29.00 to $35.00 in a research note issued on Wednesday. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Cowen and Company’s price target would indicate a potential upside of 9.24% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Vetr upgraded Alcoa Corp from a “hold” rating to a “buy” rating and set a $29.49 target price for the company in a report on Monday, January 2nd. Citigroup Inc upgraded Alcoa Corp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $37.50 to $45.00 in a report on Wednesday, January 25th. Zacks Investment Research upgraded Alcoa Corp from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Friday, January 27th. Bank of America Corp upgraded Alcoa Corp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $35.00 to $45.00 in a report on Friday, February 3rd. Finally, Goldman Sachs Group Inc upgraded Alcoa Corp from a “neutral” rating to a “buy” rating in a report on Monday, March 6th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $36.12.

Analyst Recommendations for Alcoa Corp (NYSE:AA)

Alcoa Corp (NYSE:AA) opened at 32.04 on Wednesday. Alcoa Corp has a one year low of $20.00 and a one year high of $39.78. The stock’s 50 day moving average price is $33.89 and its 200-day moving average price is $31.21. The stock’s market cap is $5.90 billion.

Alcoa Corp (NYSE:AA) last released its earnings results on Tuesday, January 24th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ 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. Alcoa Corp’s revenue was up 3.5% on a year-over-year basis. On average, analysts predict that Alcoa Corp will post $2.63 earnings per share for the current year.

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

Large investors have recently modified their holdings of the company. HL Financial Services LLC increased its stake 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 during the period. IMS Capital Management increased its stake 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 during the period. Bollard Group LLC increased its stake 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 during the period. Concert Wealth Management Inc. increased its stake 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 during the period. Finally, Great West Life Assurance Co. Can increased its stake 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 during the period.

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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