Market Analysts see Alcoa Corporation [AA] gaining to $65. Time to buy?



Alcoa Corporation [NYSE: AA] closed the trading session at $90.69 on 03/21/22. The day’s price range saw the stock hit a low of $85.3001, while the highest price level was $92.11. The company report on March 9, 2022 that Alcoa Completes Energy Infrastructure Project at Its Deschambault Smelter in Canada to Boost Aluminum Production, Improve Stability.

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Alcoa Corporation (NYSE: AA) today officially marked the completion of a capital project that is expected to improve stability, increase efficiency, and boost production at its Deschambault aluminum smelter in Quebec, Canada.

The smelter has finished the installation of upgraded electrical infrastructure, the result of a $47 million capital project to help the site continue to improve operations. The work included the addition of a third electrical transformer to provide more amperage to the smelting pots and enable increased metal production. In addition, upgraded environmental equipment will allow the plant to maintain environmental compliance as it works to increase aluminum production in the coming years.

The stocks have a year to date performance of 52.22 percent and weekly performance of 23.39 percent. The stock has been moved at 87.14 percent over the last six months. The stock has performed 18.60 percent around the most recent 30 days and changed 68.79 percent over the most recent 3-months.

If compared to the average trading volume of 8.28M shares, AA reached to a volume of 9874554 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $81.33 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 1.80. 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.

Deutsche Bank have made an estimate for Alcoa Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 11, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Outperform. The new note on the price target was released on November 17, 2021, representing the official price target for Alcoa Corporation stock. Previously, the target price had yet another raise from $52 to $60, while Jefferies kept a Buy rating on AA stock. On October 05, 2021, analysts increased their price target for AA shares from 50 to 52.

The Average True Range (ATR) for Alcoa Corporation is set at 5.64, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 1.35. The Price to Book ratio for the last quarter was 3.55, with the Price to Cash per share for the same quarter was set at 9.99. Price to Free Cash Flow for AA in the course of the last twelve months was 31.07 with Quick ratio for the last quarter at 1.00.

AA stock trade performance evaluation

Alcoa Corporation [AA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.39. With this latest performance, AA shares gained by 18.60% in over the last four-week period, additionally plugging by 87.14% over the last 6 months – not to mention a rise of 198.03% 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 65.66, with the RSI for the last a single of trading hit 68.73, and the three-weeks RSI is set at 64.44 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 70.64, while it was recorded at 80.64 for the last single week of trading, and 51.63 for the last 200 days.

Alcoa Corporation [AA]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Alcoa Corporation [AA] shares currently have an operating margin of +19.01 and a Gross Margin at +21.08. Alcoa Corporation’s Net Margin is presently recorded at +3.45.

Return on Equity for this stock inclined to 10.75, with Return on Assets sitting at 2.87.

Alcoa Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.60.

Alcoa Corporation [AA]: Insider Ownership positions

There are presently around $12,491 million, or 84.50% of AA stock, in the hands of institutional investors. The top three institutional holders of AA stocks are: VANGUARD GROUP INC with ownership of 18,119,209, which is approximately 8.42% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 17,693,630 shares of the stock with an approximate value of $1.46 billion in AA stocks shares; and STATE STREET CORP, currently with $526.26 million in AA stock with ownership of nearly 43.766% of the company’s market capitalization.

Positions in Alcoa Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 294 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 40,222,956 shares. Additionally, 232 investors decreased positions by around 30,479,239 shares, while 79 investors held positions by with 80,812,892 shares. The mentioned changes placed institutional holdings at 151,515,087 shares, according to the latest SEC report filing. AA stock had 147 new institutional investments in for a total of 10,840,366 shares, while 91 institutional investors sold positions of 11,413,798 shares during the same period.