Alcoa Corporation [AA] stock Downgrade by Citigroup analyst, price target now $84

Alcoa Corporation [NYSE: AA] stock went on a downward path that fall over -0.53% on Monday, amounting to a one-week price increase of more than 6.27%. The company report on September 8, 2022 that Alcoa’s Poços de Caldas location in Brazil Earns Certification from Aluminium Stewardship Initiative (ASI).


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Alcoa Corporation (NYSE: AA) announced today that it has received certification from the Aluminium Stewardship Initiative (ASI) for its Poços de Caldas operations in Brazil.

All of the Company’s operating locations in Brazil are now ASI certified, which brings the global number of Alcoa sites that have earned ASI’s Performance Standard certification to 17.

Over the last 12 months, AA stock rose by 5.74%. The one-year Alcoa Corporation stock forecast points to a potential upside of 10.1. The average equity rating for AA stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $8.74 billion, with 182.00 million shares outstanding and 173.82 million shares in the current float. Compared to the average trading volume of 5.92M shares, AA stock reached a trading volume of 5272707 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $58.22 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 2.67, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.65. The Price to Book ratio for the last quarter was 1.68, with the Price to Cash per share for the same quarter was set at 9.80. Price to Free Cash Flow for AA in the course of the last twelve months was 7.84 with Quick ratio for the last quarter at 1.00.

AA Stock Performance Analysis:

Alcoa Corporation [AA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.27. With this latest performance, AA shares dropped by -1.75% in over the last four-week period, additionally sinking by -33.78% over the last 6 months – not to mention a rise of 5.74% 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 53.99, with the RSI for the last a single of trading hit 55.94, and the three-weeks RSI is set at 52.57 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 48.66, while it was recorded at 49.88 for the last single week of trading, and 61.53 for the last 200 days.

Insight into Alcoa Corporation 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.

Alcoa Corporation [AA] Insider Position Details

There are presently around $7,945 million, or 86.20% 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 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 18,150,355 shares of the stock with an approximate value of $949.99 million in AA stocks shares; and STATE STREET CORP, currently with $410.46 million in AA stock with ownership of nearly 16.344% of the company’s market capitalization.

Positions in Alcoa Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 278 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 22,546,424 shares. Additionally, 313 investors decreased positions by around 25,640,128 shares, while 84 investors held positions by with 103,612,087 shares. The mentioned changes placed institutional holdings at 151,798,639 shares, according to the latest SEC report filing. AA stock had 88 new institutional investments in for a total of 5,283,065 shares, while 161 institutional investors sold positions of 7,255,388 shares during the same period.

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