Alcoa Corp (NYSE:AA) has been given a $44.00 target price by analysts at Berenberg Bank in a report issued on Wednesday. The brokerage currently has a “hold” rating on the industrial products company’s stock. Berenberg Bank’s target price indicates a potential downside of 8.20% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Clarkson Capital restated a “buy” rating on shares of Alcoa Corp in a research note on Thursday, July 20th. BMO Capital Markets set a $45.00 target price on shares of Alcoa Corp and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Morgan Stanley reiterated an “overweight” rating on shares of Alcoa Corp in a research note on Friday, July 21st. Zacks Investment Research upgraded shares of Alcoa Corp from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective on the stock in a research note on Wednesday, September 6th. Finally, Credit Suisse Group began coverage on shares of Alcoa Corp in a research note on Wednesday, August 9th. They set a “neutral” rating and a $42.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $49.88.

Alcoa Corp (NYSE AA) traded up 2.99% during mid-day trading on Wednesday, reaching $47.93. The company’s stock had a trading volume of 4,209,075 shares. The firm’s 50 day moving average is $46.37 and its 200-day moving average is $46.37. The stock has a market cap of $8.87 billion and a P/E ratio of 55.09. Alcoa Corp has a one year low of $20.00 and a one year high of $49.30.

Alcoa Corp (NYSE:AA) last issued its earnings results 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 company 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. Equities analysts expect that Alcoa Corp will post $3.15 earnings per share for the current fiscal year.

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A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Alcoa Corp by 14.5% during the second quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock valued at $484,895,000 after acquiring an additional 1,885,745 shares during the last quarter. Elliott Management Corp lifted its position in Alcoa Corp by 14.7% during the second quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock valued at $383,228,000 after acquiring an additional 1,500,000 shares during the last quarter. Balyasny Asset Management LLC lifted its position in Alcoa Corp by 22.8% during the second quarter. Balyasny Asset Management LLC now owns 7,848,750 shares of the industrial products company’s stock valued at $256,262,000 after acquiring an additional 1,458,488 shares during the last quarter. BlackRock Inc. lifted its position in Alcoa Corp by 14.1% during the second quarter. BlackRock Inc. now owns 7,779,093 shares of the industrial products company’s stock valued at $253,986,000 after acquiring an additional 958,494 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its position in Alcoa Corp by 163.5% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 4,539,019 shares of the industrial products company’s stock valued at $148,198,000 after acquiring an additional 2,816,320 shares during the last quarter.

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.

Analyst Recommendations for Alcoa Corp (NYSE:AA)

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