Alcoa Corp. (NYSE:AA) has been assigned a consensus rating of “Buy” from the nineteen ratings firms that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $52.00.

A number of research analysts recently weighed in on AA shares. Deutsche Bank AG raised shares of Alcoa Corp. from a “hold” rating to a “buy” rating and raised their target price for the company from $44.00 to $60.00 in a research report on Tuesday, September 12th. Citigroup Inc. reissued a “buy” rating and issued a $45.00 price objective on shares of Alcoa Corp. in a research report on Saturday, July 22nd. BMO Capital Markets set a $45.00 price objective on shares of Alcoa Corp. and gave the company a “buy” rating in a research report on Saturday, August 5th. Morgan Stanley lifted their price objective on shares of Alcoa Corp. from $47.00 to $54.00 and gave the company a “top pick” rating in a research report on Monday, September 25th. Finally, Zacks Investment Research raised shares of Alcoa Corp. from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Thursday, September 14th.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in AA. Principal Financial Group Inc. raised its holdings in Alcoa Corp. by 5.7% during the first quarter. Principal Financial Group Inc. now owns 25,052 shares of the industrial products company’s stock worth $862,000 after buying an additional 1,349 shares during the last quarter. FMR LLC raised its holdings in shares of Alcoa Corp. by 24.3% in the first quarter. FMR LLC now owns 1,298,555 shares of the industrial products company’s stock valued at $44,670,000 after purchasing an additional 253,555 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of Alcoa Corp. by 185.2% in the first quarter. Teachers Advisors LLC now owns 444,056 shares of the industrial products company’s stock valued at $15,276,000 after purchasing an additional 288,380 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Alcoa Corp. by 4,113.0% in the first quarter. BlackRock Inc. now owns 6,820,599 shares of the industrial products company’s stock valued at $234,632,000 after purchasing an additional 6,658,703 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Alcoa Corp. by 9.4% in the first quarter. Amalgamated Bank now owns 7,954 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 682 shares during the last quarter.

Alcoa Corp. (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.05). Alcoa Corp. had a return on equity of 4.90% and a net margin of 2.61%. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. The company’s revenue was up 27.3% on a year-over-year basis.

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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