Alcoa Corp (NYSE:AA) had its target price increased by Morgan Stanley from $47.00 to $54.00 in a research note published on Monday morning, The Fly reports. The firm currently has a top pick rating on the industrial products company’s stock.

A number of other brokerages also recently issued reports on AA. Berenberg Bank downgraded Alcoa Corp from a buy rating to a hold rating and boosted their price target for the company from $41.00 to $44.00 in a report on Friday, September 22nd. BMO Capital Markets boosted their price target on Alcoa Corp from $45.00 to $60.00 and gave the company an outperform rating in a report on Wednesday, September 13th. Zacks Investment Research raised Alcoa Corp from a hold rating to a buy rating and set a $50.00 price target for the company in a report on Thursday, September 14th. Macquarie began coverage on Alcoa Corp in a report on Thursday, September 7th. They issued an outperform rating for the company. Finally, Deutsche Bank AG raised Alcoa Corp from a hold rating to a buy rating and boosted their price target for the company from $44.00 to $60.00 in a report on Tuesday, September 12th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Alcoa Corp currently has an average rating of Buy and a consensus target price of $44.13.

Alcoa Corp (AA) opened at 45.07 on Monday. The stock has a 50 day moving average of $44.87 and a 200 day moving average of $44.87. Alcoa Corp has a 52 week low of $20.00 and a 52 week high of $47.95. The company has a market cap of $8.31 billion and a PE ratio of 51.27.

Alcoa Corp (NYSE:AA) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.88 billion. Alcoa Corp had a return on equity of 3.29% and a net margin of 1.63%. Alcoa Corp’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Equities research analysts predict that Alcoa Corp will post $2.96 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.thecerbatgem.com/2017/09/28/alcoa-corp-aa-price-target-raised-to-54-00.html.

A number of large investors have recently modified their holdings of the business. Gateway Investment Advisers LLC grew its holdings in Alcoa Corp by 0.4% in the 2nd quarter. Gateway Investment Advisers LLC now owns 17,020 shares of the industrial products company’s stock valued at $556,000 after buying an additional 73 shares in the last quarter. NEXT Financial Group Inc grew its holdings in Alcoa Corp by 2.4% in the 2nd quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock valued at $146,000 after buying an additional 104 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Alcoa Corp by 0.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 35,996 shares of the industrial products company’s stock valued at $1,175,000 after buying an additional 104 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Alcoa Corp by 3.3% in the 1st quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after buying an additional 132 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Alcoa Corp by 2.5% in the 1st quarter. Clearbridge Investments LLC now owns 7,780 shares of the industrial products company’s stock valued at $268,000 after buying an additional 190 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.

The Fly

Analyst Recommendations for Alcoa Corp (NYSE:AA)

Receive News & Stock Ratings for Alcoa Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa Corp and related stocks with our FREE daily email newsletter.