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

Alcoa Corporation [NYSE: AA] jumped around 1.42 points on Tuesday, while shares priced at $53.12 at the close of the session, up 2.75%. The company report on August 8, 2022 that Alcoa Purchases Group Annuity Contracts for Certain U.S. Pension Plans.

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Alcoa Corporation (NYSE: AA) today announced the purchase of group annuity contracts that will facilitate the transfer of approximately $1 billion of pension obligations and assets associated with defined benefit pension plans for certain United States retirees and beneficiaries.

The transfer, which will be complete later this month, further enhances Alcoa’s strong balance sheet, reduces the risk from volatility in pension plan obligations, and continues to meet commitments to retirees and beneficiaries. This is the Company’s fifth pension annuity transaction for a total transfer of approximately $3.3 billion in pension obligations and assets from 2018 to date.

Alcoa Corporation stock is now -10.84% down from its year-to-date (YTD) trading value. AA Stock saw the intraday high of $53.89 and lowest of $52.59 per share. The company’s 52-week high price is 98.09, which means current price is +34.26% above from all time high which was touched on 03/25/22.

Compared to the average trading volume of 6.31M shares, AA reached a trading volume of 4914763 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $58.63 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 2.10. 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 2.41, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.72. The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 9.02. Price to Free Cash Flow for AA in the course of the last twelve months was 8.65 with Quick ratio for the last quarter at 1.00.

How has AA stock performed recently?

Alcoa Corporation [AA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.44. With this latest performance, AA shares gained by 22.34% in over the last four-week period, additionally sinking by -28.08% over the last 6 months – not to mention a rise of 22.34% 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 61.47, with the RSI for the last a single of trading hit 66.69, and the three-weeks RSI is set at 56.01 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 48.79, while it was recorded at 52.76 for the last single week of trading, and 61.21 for the last 200 days.

Alcoa Corporation [AA]: Deeper insight into the 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 1.80.

Insider trade positions for Alcoa Corporation [AA]

There are presently around $8,047 million, or 90.00% of AA stock, in the hands of institutional investors. The top three institutional holders of AA stocks are: BLACKROCK INC. with ownership of 22,327,848, which is approximately 11.171% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 18,150,355 shares of the stock with an approximate value of $964.15 million in AA stocks shares; and STATE STREET CORP, currently with $416.57 million in AA stock with ownership of nearly 16.344% of the company’s market capitalization.

283 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 22,390,422 shares. Additionally, 310 investors decreased positions by around 25,631,118 shares, while 83 investors held positions by with 103,464,693 shares. The mentioned changes placed institutional holdings at 151,486,233 shares, according to the latest SEC report filing. AA stock had 92 new institutional investments in for a total of 5,425,742 shares, while 158 institutional investors sold positions of 7,246,393 shares during the same period.


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