Alcoa Corp. (NYSE:AA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $50.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.63% from the company’s current price.

According to Zacks, “Alcoa is a global industry leader in bauxite, alumina and aluminum products. “

Several other research analysts have also recently issued reports on AA. Citigroup Inc. reissued a “buy” rating and set a $45.00 price target on shares of Alcoa Corp. in a report on Saturday, July 22nd. ING Group raised shares of Alcoa Corp. to a “buy” rating in a report on Friday, June 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Alcoa Corp. in a report on Friday, July 21st. Clarkson Capital began coverage on shares of Alcoa Corp. in a report on Monday, May 22nd. They issued a “buy” rating and a $43.00 target price for the company. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $45.00 price target on shares of Alcoa Corp. in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Alcoa Corp. currently has a consensus rating of “Buy” and a consensus price target of $40.07.

Alcoa Corp. (AA) traded down 0.27% during mid-day trading on Thursday, hitting $44.79. The stock had a trading volume of 4,256,574 shares. The stock has a market cap of $8.26 billion and a P/E ratio of 50.96. The firm has a 50-day moving average of $44.30 and a 200-day moving average of $38.31. Alcoa Corp. has a 52-week low of $20.00 and a 52-week high of $45.20.

Alcoa Corp. (NYSE:AA) last released its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. Alcoa Corp. had a net margin of 1.63% and a return on equity of 3.29%. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Alcoa Corp.’s revenue for the quarter was up 23.1% on a year-over-year basis. On average, analysts forecast that Alcoa Corp. will post $2.92 EPS for the current fiscal year.

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Hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. boosted its holdings in shares of Alcoa Corp. by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock worth $142,000 after buying an additional 132 shares during the period. Parallel Advisors LLC acquired a new position in Alcoa Corp. during the 1st quarter valued at $133,000. NEXT Financial Group Inc raised its stake in Alcoa Corp. by 2.4% during the 2nd 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. Van ECK Associates Corp raised its stake in Alcoa Corp. by 42.3% during the 1st quarter. Van ECK Associates Corp now owns 5,566 shares of the industrial products company’s stock valued at $191,000 after purchasing an additional 1,654 shares during the last quarter. Finally, Global X Management Co. LLC raised its stake in Alcoa Corp. by 220.6% during the 2nd quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock valued at $189,000 after purchasing an additional 3,993 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.

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Analyst Recommendations for Alcoa Corp. (NYSE:AA)

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