Zacks Investment Research upgraded shares of Alcoa Corp. (NYSE:AA) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning. They currently have $51.00 price target on the industrial products company’s stock.

According to Zacks, “Alcoa is a global industry leader in bauxite, alumina and aluminum products. “

Several other research firms also recently commented on AA. Deutsche Bank AG reiterated a hold rating and set a $44.00 target price (up from $37.00) on shares of Alcoa Corp. in a research report on Sunday, June 25th. Morgan Stanley restated an overweight rating on shares of Alcoa Corp. in a report on Friday, July 21st. Citigroup Inc. restated a buy rating and set a $45.00 price target on shares of Alcoa Corp. in a report on Friday, May 19th. Clarkson Capital started coverage on shares of Alcoa Corp. in a report on Monday, May 22nd. They set a buy rating and a $43.00 price target for the company. Finally, Credit Suisse Group started coverage on shares of Alcoa Corp. in a report on Wednesday, August 9th. They set a neutral rating and a $42.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Alcoa Corp. currently has an average rating of Buy and an average target price of $39.77.

Alcoa Corp. (NYSE AA) opened at 42.61 on Wednesday. Alcoa Corp. has a 52 week low of $20.00 and a 52 week high of $45.22. The firm has a 50 day moving average of $39.44 and a 200-day moving average of $34.93. The company has a market capitalization of $7.85 billion and a P/E ratio of 48.48.

Alcoa Corp. (NYSE:AA) last posted its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Alcoa Corp. had a net margin of 1.63% and a return on equity of 3.29%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the company earned $0.15 EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. On average, analysts forecast that Alcoa Corp. will post $2.86 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC bought a new stake in Alcoa Corp. during the 1st quarter valued at $133,000. Pacer Advisors Inc. increased its stake in Alcoa Corp. by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 132 shares in the last quarter. NEXT Financial Group Inc increased its stake in Alcoa Corp. by 2.4% during the 2nd quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 104 shares in the last quarter. Global X Management Co. LLC increased its stake in Alcoa Corp. by 220.6% during the 2nd quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock valued at $189,000 after purchasing an additional 3,993 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Alcoa Corp. by 3.8% during the 2nd quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock valued at $189,000 after purchasing an additional 213 shares in the last quarter.

About Alcoa Corp.

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.

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Analyst Recommendations for Alcoa Corp. (NYSE:AA)

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