Macquarie initiated coverage on shares of Alcoa Corp. (NYSE:AA) in a note issued to investors on Thursday. The brokerage set an “outperform” rating on the industrial products company’s stock.

Other analysts have also issued research reports about the company. ING Group upgraded Alcoa Corp. to a “buy” rating in a report on Friday, June 23rd. BMO Capital Markets reiterated a “buy” rating and set a $45.00 target price on shares of Alcoa Corp. in a report on Friday, June 2nd. Clarkson Capital initiated coverage on Alcoa Corp. in a report on Monday, May 22nd. They set a “buy” rating and a $43.00 target price on the stock. Citigroup Inc. reiterated a “buy” rating and set a $45.00 target price on shares of Alcoa Corp. in a report on Friday, May 19th. Finally, Morgan Stanley lowered Alcoa Corp. from a “top pick” rating to a “buy” rating and upped their target price for the stock from $43.00 to $47.00 in a report on Tuesday, June 27th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Alcoa Corp. has an average rating of “Buy” and an average price target of $39.77.

Shares of Alcoa Corp. (NYSE:AA) traded up 1.04% on Thursday, hitting $44.89. The stock had a trading volume of 1,018,511 shares. The stock has a market capitalization of $8.27 billion and a PE ratio of 51.07. Alcoa Corp. has a one year low of $20.00 and a one year high of $45.22. The firm’s 50 day moving average is $39.03 and its 200-day moving average is $34.81.

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

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Several institutional investors have recently bought and sold shares of the company. Gateway Investment Advisers LLC grew its position in shares of Alcoa Corp. by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 17,020 shares of the industrial products company’s stock valued at $556,000 after purchasing an additional 73 shares during the last quarter. NEXT Financial Group Inc grew its position in shares of 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 purchasing an additional 104 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Alcoa Corp. by 0.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,996 shares of the industrial products company’s stock valued at $1,175,000 after purchasing an additional 104 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of 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 purchasing an additional 132 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Alcoa Corp. by 2.5% in the first quarter. Clearbridge Investments LLC now owns 7,780 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 190 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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