Alcoa Corp (AA) Given a $51.00 Price Target at Cowen and Company

Cowen and Company set a $51.00 target price on Alcoa Corp (NYSE:AA) in a report issued on Wednesday morning. The firm currently has a hold rating on the industrial products company’s stock.

AA has been the topic of a number of other reports. Deutsche Bank AG upgraded Alcoa Corp from a hold rating to a buy rating and upped their price objective for the company from $44.00 to $60.00 in a report on Tuesday, September 12th. Citigroup Inc. reiterated a buy rating and issued a $45.00 price objective on shares of Alcoa Corp in a report on Saturday, July 22nd. BMO Capital Markets set a $45.00 price objective on Alcoa Corp and gave the company a buy rating in a report on Saturday, August 5th. Morgan Stanley cut Alcoa Corp from a top pick rating to a buy rating and upped their price objective for the company from $43.00 to $47.00 in a report on Tuesday, June 27th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Alcoa Corp from a hold rating to a buy rating and set a $50.00 price objective on the stock in a report on Thursday, September 14th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $47.83.

Shares of Alcoa Corp (AA) traded up 1.26% during midday trading on Wednesday, hitting $47.53. The stock had a trading volume of 3,027,481 shares. The firm’s 50 day moving average price is $46.01 and its 200 day moving average price is $46.01. Alcoa Corp has a 52-week low of $20.00 and a 52-week high of $49.30. The firm has a market cap of $8.76 billion and a price-to-earnings ratio of 54.07.

Alcoa Corp (NYSE:AA) last released its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Alcoa Corp had a return on equity of 3.29% and a net margin of 1.63%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the firm posted $0.15 earnings per share. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. On average, equities research analysts expect that Alcoa Corp will post $3.08 earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of the company. Gateway Investment Advisers LLC increased its position in shares of Alcoa Corp by 0.4% during the second quarter. Gateway Investment Advisers LLC now owns 17,020 shares of the industrial products company’s stock worth $556,000 after acquiring an additional 73 shares during the period. NEXT Financial Group Inc increased its position in shares of Alcoa Corp by 2.4% during the second quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock worth $146,000 after acquiring an additional 104 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Alcoa Corp by 0.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,996 shares of the industrial products company’s stock worth $1,175,000 after acquiring an additional 104 shares during the period. Pacer Advisors Inc. increased its position in shares of Alcoa Corp by 3.3% during the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 132 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of Alcoa Corp by 2.5% during the first quarter. Clearbridge Investments LLC now owns 7,780 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 190 shares during the period.

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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