For Alcoa Corporation [AA], Analyst sees a rise to $43. What next?

Alcoa Corporation [NYSE: AA] stock went on an upward path that rose over 4.74% on Tuesday, amounting to a one-week price decrease of less than -1.47%. The company report on October 19, 2022 that Alcoa Corporation Reports Third Quarter 2022 Results.

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Alcoa Corporation (NYSE: AA) today reported third quarter 2022 financial results that reflect lower sequential average realized prices for alumina and aluminum, coupled with higher costs for energy and key raw materials.

Over the last 12 months, AA stock dropped by -12.52%. The one-year Alcoa Corporation stock forecast points to a potential upside of 12.18. The average equity rating for AA stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $7.58 billion, with 179.00 million shares outstanding and 175.35 million shares in the current float. Compared to the average trading volume of 7.26M shares, AA stock reached a trading volume of 6245453 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 $46.55 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 2.40. 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.

UBS have made an estimate for Alcoa Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 07, 2022. The new note on the price target was released on September 22, 2022, representing the official price target for Alcoa Corporation stock. Previously, the target price had yet another raise from $51 to $66, while Morgan Stanley kept a Overweight rating on AA stock.

The Average True Range (ATR) for Alcoa Corporation is set at 2.58, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.58. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 7.72. Price to Free Cash Flow for AA in the course of the last twelve months was 10.09 with Quick ratio for the last quarter at 1.00.

AA Stock Performance Analysis:

Alcoa Corporation [AA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.47. With this latest performance, AA shares gained by 9.33% in over the last four-week period, additionally sinking by -36.78% over the last 6 months – not to mention a drop of -12.52% 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 51.03, with the RSI for the last a single of trading hit 53.43, and the three-weeks RSI is set at 49.08 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 43.01, while it was recorded at 40.69 for the last single week of trading, and 58.90 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 $6,151 million, or 87.90% 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 $741.99 million in AA stocks shares; and STATE STREET CORP, currently with $320.59 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 October and at the time of the October reporting period, where 260 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 20,660,362 shares. Additionally, 310 investors decreased positions by around 27,735,543 shares, while 83 investors held positions by with 102,078,840 shares. The mentioned changes placed institutional holdings at 150,474,745 shares, according to the latest SEC report filing. AA stock had 80 new institutional investments in for a total of 4,370,096 shares, while 148 institutional investors sold positions of 7,253,502 shares during the same period.


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