Alcoa (NYSE:AA) Trading Up 6.5%
Alcoa Corp (NYSE:AA) shares were up 6.5% during trading on Wednesday . The company traded as high as $22.28 and last traded at $22.18, approximately 6,190,919 shares were traded during trading. An increase of 71% from the average daily volume of 3,618,501 shares. The stock had previously closed at $20.83.
Several analysts have weighed in on AA shares. Zacks Investment Research upgraded Alcoa from a “sell” rating to a “hold” rating in a research note on Monday, September 2nd. BMO Capital Markets set a $35.00 price objective on Alcoa and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. ValuEngine downgraded Alcoa from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Macquarie lowered Alcoa from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $34.00 to $25.00 in a research report on Tuesday, July 9th. Finally, Credit Suisse Group upgraded shares of Alcoa from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $26.00 to $27.00 in a report on Wednesday. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $33.92.
The firm has a market cap of $3.77 billion, a PE ratio of 6.20 and a beta of 1.45. The stock has a 50 day simple moving average of $19.42 and a two-hundred day simple moving average of $23.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 1.51.
Large investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its position in shares of Alcoa by 143.3% during the 1st quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 589 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Alcoa during the second quarter worth approximately $25,000. Farmers National Bank purchased a new position in Alcoa during the first quarter worth approximately $32,000. TRUE Private Wealth Advisors acquired a new stake in Alcoa in the second quarter valued at approximately $30,000. Finally, Quantamental Technologies LLC acquired a new stake in Alcoa in the second quarter valued at approximately $74,000.
About Alcoa (NYSE:AA)
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
Featured Article: Net Margin
Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.