Alcoa Corporation [NYSE: AA] price surged by 3.31 percent to reach at $1.35. The company report on April 14, 2023 that Alcoa Purchases Group Annuity Contracts for Certain Canadian Pension Plans.
Alcoa Corporation today announced the purchase of group annuity contracts that will facilitate the transfer of approximately $235 million of pension obligations and assets associated with defined benefit pension plans for certain Canadian retirees and beneficiaries.
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The transfer, which will be complete later this month, further enhances the Company’s strong balance sheet, reduces the risk from volatility in pension plan obligations, and continues to meet commitments to retirees and beneficiaries.
A sum of 3713110 shares traded at recent session while its average daily volume was at 5.15M shares. Alcoa Corporation shares reached a high of $42.19 and dropped to a low of $40.9996 until finishing in the latest session at $42.15.
The one-year AA stock forecast points to a potential upside of 22.07. The average equity rating for AA stock is currently 2.30, trading closer to a bullish pattern in the stock market.
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 $54.09 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 2.30. 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 Buy, with their previous recommendation back on February 22, 2023. While these analysts kept the previous recommendation, B. Riley Securities raised their target price from $41 to $42. The new note on the price target was released on January 19, 2023, representing the official price target for Alcoa Corporation stock. Previously, the target price had yet another drop from $60 to $56, while Morgan Stanley kept a Equal-Weight rating on AA stock.
The Average True Range (ATR) for Alcoa Corporation is set at 1.78, with the Price to Sales ratio for AA stock in the period of the last 12 months amounting to 0.61. The Price to Book ratio for the last quarter was 1.48, with the Price to Cash per share for the same quarter was set at 7.54. Price to Free Cash Flow for AA in the course of the last twelve months was 28.22 with Quick ratio for the last quarter at 0.90.
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 3.74. With this latest performance, AA shares gained by 7.66% in over the last four-week period, additionally plugging by 9.91% over the last 6 months – not to mention a drop of -51.98% 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 50.34, with the RSI for the last a single of trading hit 56.95, and the three-weeks RSI is set at 47.65 for Alcoa Corporation [AA]. The present Moving Average for the last 50 days of trading for this stock 45.10, while it was recorded at 40.79 for the last single week of trading, and 45.82 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 +13.30 and a Gross Margin at +15.15. Alcoa Corporation’s Net Margin is presently recorded at -0.96.
Return on Total Capital for AA is now 20.45, given the latest momentum, and Return on Invested Capital for the company is -1.84. Return on Equity for this stock declined to -2.52, with Return on Assets sitting at -0.83. When it comes to the capital structure of this company, Alcoa Corporation [AA] has a Total Debt to Total Equity ratio set at 37.35. Additionally, AA Total Debt to Total Capital is recorded at 27.19, with Total Debt to Total Assets ending up at 12.85. Long-Term Debt to Equity for the company is recorded at 36.74, with the Long-Term Debt to Total Capital now at 26.75.
Reflecting on the efficiency of the workforce at the company, Alcoa Corporation [AA] managed to generate an average of -$9,389 per employee. Receivables Turnover for the company is 14.24 with a Total Asset Turnover recorded at a value of 0.86.Alcoa Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.70.
AA Stock EPS
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%.
Alcoa Corporation [AA] Insider Position Details
There are presently around $5,939 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 22,268,506, which is approximately -0.607% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 17,673,416 shares of the stock with an approximate value of $721.08 million in AA stocks shares; and STATE STREET CORP, currently with $326.49 million in AA stock with ownership of nearly 10.083% of the company’s market capitalization.
Positions in Alcoa Corporation stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 216 institutional holders increased their position in Alcoa Corporation [NYSE:AA] by around 24,490,359 shares. Additionally, 284 investors decreased positions by around 20,670,630 shares, while 87 investors held positions by with 100,401,485 shares. The mentioned changes placed institutional holdings at 145,562,474 shares, according to the latest SEC report filing. AA stock had 81 new institutional investments in for a total of 3,719,665 shares, while 91 institutional investors sold positions of 5,044,695 shares during the same period.