Saturday, April 10, 2021

Market Analysts see Alcoa Corporation [AA] gaining to $43. Time to buy?

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Alcoa Corporation [NYSE: AA] loss -0.76% or -0.24 points to close at $31.31 with a heavy trading volume of 6154997 shares. The company report on April 1, 2021 that Alcoa Completes Divestiture of Warrick Rolling Mill to Kaiser Aluminum Corporation for $670 Million.

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Alcoa Corporation (NYSE: AA) announced it has completed the sale of the rolling mill and associated assets near Evansville, Indiana, held by Alcoa Warrick LLC, to Kaiser Aluminum Corporation. The sale closed on March 31, 2021.


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In accordance with the previously announced sale agreement, Alcoa Corporation received total consideration of approximately $670 million, including the assumption by Kaiser of related other postretirement employee benefit (OPEB) liabilities. The consideration amount is subject to customary post-closing adjustments.

It opened the trading session at $31.66, the shares rose to $33.07 and dropped to $31.10, the range by which the price of stock traded the whole day. The daily chart for AA points out that the company has recorded 164.89% gains over the past six months. However, it is still -400.96% lower than its most recent low trading price.

If we look at the average trading volume of 6.83M shares, AA reached to a volume of 6154997 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Alcoa Corporation [AA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AA shares is $28.73 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AA stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Alcoa Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 24, 2021. The new note on the price target was released on March 17, 2021, representing the official price target for Alcoa Corporation stock. Previously, the target price had yet another raise from $19 to $32, while Goldman kept a Buy rating on AA stock.

The Average True Range (ATR) for Alcoa Corporation is set at 2.09, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 1.76, with the Price to Cash per share for the same quarter was set at 8.56. Price to Free Cash Flow for AA in the course of the last twelve months was 143.44 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for AA stock

Alcoa Corporation [AA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.28. With this latest performance, AA shares gained by 8.00% in over the last four-week period, additionally plugging by 164.89% over the last 6 months – not to mention a rise of 424.46% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AA stock in for the last two-week period is set at 55.81, with the RSI for the last a single of trading hit 53.09, and the three-weeks RSI is set at 57.15 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 26.17, while it was recorded at 32.11 for the last single week of trading, and 18.52 for the last 200 days.

Alcoa Corporation [AA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Alcoa Corporation [AA] shares currently have an operating margin of +5.68 and a Gross Margin at +8.16. Alcoa Corporation’s Net Margin is presently recorded at -1.81.

Return on Total Capital for AA is now 6.88, given the latest momentum, and Return on Invested Capital for the company is -2.87. Return on Equity for this stock declined to -4.58, with Return on Assets sitting at -1.15. When it comes to the capital structure of this company, Alcoa Corporation [AA] has a Total Debt to Total Equity ratio set at 78.74. Additionally, AA Total Debt to Total Capital is recorded at 44.05, with Total Debt to Total Assets ending up at 17.54. Long-Term Debt to Equity for the company is recorded at 76.86, with the Long-Term Debt to Total Capital now at 43.00.

Reflecting on the efficiency of the workforce at the company, Alcoa Corporation [AA] managed to generate an average of -$13,178 per employee. Receivables Turnover for the company is 15.41 with a Total Asset Turnover recorded at a value of 0.64.Alcoa Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.60.

Alcoa Corporation [AA]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Alcoa Corporation posted -0.23/share EPS, while the average EPS was predicted by analysts to be reported at -0.24/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AA.

An analysis of insider ownership at Alcoa Corporation [AA]

There are presently around $4,534 million, or 80.20% of AA stock, in the hands of institutional investors. The top three institutional holders of AA stocks are: VANGUARD GROUP INC with ownership of 16,363,905, which is approximately -2.477% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 13,925,422 shares of the stock with an approximate value of $436.0 million in AA stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $288.62 million in AA stock with ownership of nearly 23.497% of the company’s market capitalization.

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Positions in Alcoa Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 150 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 24,638,496 shares. Additionally, 144 investors decreased positions by around 18,618,969 shares, while 82 investors held positions by with 101,556,226 shares. The mentioned changes placed institutional holdings at 144,813,691 shares, according to the latest SEC report filing. AA stock had 72 new institutional investments in for a total of 7,526,599 shares, while 40 institutional investors sold positions of 5,514,592 shares during the same period.

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