Morgan Stanley lifts Alcoa Corporation [AA] price estimate. Who else is bullish?

Alcoa Corporation [NYSE: AA] gained 0.80% on the last trading session, reaching $45.49 price per share at the time. The company report on December 28, 2022 that Alcoa Schedules Fourth Quarter and Full Year 2022 Earnings Release and Conference Call.

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Alcoa Corporation plans to announce its fourth quarter and full year 2022 financial results on Wednesday, January 18, 2023, after the close of trading on the New York Stock Exchange.

The press release with financial results, and a related presentation, will be available on the “Investors” section of Alcoa’s website, www.alcoa.com. A link to the press release will also be on Alcoa’s Twitter handle @Alcoa at www.twitter.com/Alcoa.

Alcoa Corporation represents 179.00 million in outstanding shares, while the company has a total market value of $8.24 billion with the latest information. AA stock price has been found in the range of $44.14 to $45.99.

If compared to the average trading volume of 6.21M shares, AA reached a trading volume of 3833883 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $50.36 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 2.50. 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.

Morgan Stanley have made an estimate for Alcoa Corporation shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on December 09, 2022. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on October 07, 2022, representing the official price target for Alcoa Corporation stock. On September 16, 2022, analysts increased their price target for AA shares from 51 to 66.

The Average True Range (ATR) for Alcoa Corporation is set at 2.07, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 1.52, with the Price to Cash per share for the same quarter was set at 7.90. Price to Free Cash Flow for AA in the course of the last twelve months was 10.96 with Quick ratio for the last quarter at 1.00.

Trading performance analysis for AA stock

Alcoa Corporation [AA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.86. With this latest performance, AA shares dropped by -2.21% in over the last four-week period, additionally sinking by -0.35% over the last 6 months – not to mention a drop of -20.93% 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 51.18, with the RSI for the last a single of trading hit 52.36, and the three-weeks RSI is set at 50.99 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 44.98, while it was recorded at 45.45 for the last single week of trading, and 53.11 for the last 200 days.

Alcoa Corporation [AA]: A deeper dive into fundamental analysis

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]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Alcoa Corporation go to 12.30%.

An analysis of insider ownership at Alcoa Corporation [AA]

There are presently around $6,359 million, or 82.60% of AA stock, in the hands of institutional investors. The top three institutional holders of AA stocks are: BLACKROCK INC. with ownership of 22,404,443, which is approximately 0.343% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 17,840,170 shares of the stock with an approximate value of $811.55 million in AA stocks shares; and STATE STREET CORP, currently with $330.67 million in AA stock with ownership of nearly -7.306% of the company’s market capitalization.

248 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 16,718,272 shares. Additionally, 253 investors decreased positions by around 26,336,885 shares, while 86 investors held positions by with 96,729,916 shares. The mentioned changes placed institutional holdings at 139,785,073 shares, according to the latest SEC report filing. AA stock had 75 new institutional investments in for a total of 3,169,303 shares, while 83 institutional investors sold positions of 12,383,547 shares during the same period.

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