For Alcoa Corporation [AA], Analyst sees a rise to $84. What next?



Alcoa Corporation [NYSE: AA] plunged by -$6.83 during the normal trading session on Monday and reaching a high of $58.5731 during the day while it closed the day at $54.21. The company report on May 6, 2022 that Alcoa Executives to Participate in Conference Hosted by Bank of America.

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Alcoa Corporation announced today that Roy C. Harvey, President and CEO, and William F. Oplinger, Executive Vice President and CFO, will participate in a question and answer session at the Bank of America Securities 2022 Global Metals, Mining & Steel Conference in Miami, Florida, beginning at 4:00 p.m. on Tuesday, May 17, 2022.

The question and answer session will follow introductory comments regarding the Company’s outlook in the current market and other matters.

Alcoa Corporation stock has also loss -18.06% of its value over the past 7 days. However, AA stock has declined by -14.96% in the 3 months of the year. Over the past six months meanwhile, it has gained 13.27% and lost -9.01% year-on date.

The market cap for AA stock reached $10.39 billion, with 184.00 million shares outstanding and 182.82 million shares in the current float. Compared to the average trading volume of 8.03M shares, AA reached a trading volume of 11941586 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 $91.42 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 2.20. 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.

Citigroup have made an estimate for Alcoa Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 21, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price from $68 to $82. The new note on the price target was released on April 08, 2022, representing the official price target for Alcoa Corporation stock. Previously, the target price had yet another raise from $78 to $100, while Morgan Stanley kept a Equal-Weight rating on AA stock. On January 11, 2022, analysts increased their price target for AA shares from 60 to 65.

The Average True Range (ATR) for Alcoa Corporation is set at 4.90, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.83. The Price to Book ratio for the last quarter was 2.18, with the Price to Cash per share for the same quarter was set at 8.11. Price to Free Cash Flow for AA in the course of the last twelve months was 19.21 with Quick ratio for the last quarter at 0.90.

AA stock trade performance evaluation

Alcoa Corporation [AA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.06. With this latest performance, AA shares dropped by -37.04% in over the last four-week period, additionally plugging by 13.27% over the last 6 months – not to mention a rise of 32.09% 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 25.10, with the RSI for the last a single of trading hit 19.57, and the three-weeks RSI is set at 30.50 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 80.48, while it was recorded at 62.27 for the last single week of trading, and 59.15 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 0.90 and a Current Ratio set at 1.60.

Alcoa Corporation [AA]: Insider Ownership positions

There are presently around $8,259 million, or 84.00% 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 $959.17 million in AA stocks shares; and STATE STREET CORP, currently with $346.05 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 April and at the time of the April reporting period, where 299 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 43,722,911 shares. Additionally, 247 investors decreased positions by around 32,576,869 shares, while 80 investors held positions by with 76,051,988 shares. The mentioned changes placed institutional holdings at 152,351,768 shares, according to the latest SEC report filing. AA stock had 143 new institutional investments in for a total of 14,251,515 shares, while 89 institutional investors sold positions of 11,259,341 shares during the same period.