The stock of Alcoa Inc (NYSE:AA) hit a new 52-week high and has $41.58 target or 32.00% above today’s $31.50 share price. The 6 months bullish chart indicates low risk for the $42.25 billion company. The 1-year high was reported on Oct, 6 by Barchart.com. If the $41.58 price target is reached, the company will be worth $13.52B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.10 million shares traded hands. Alcoa Inc (NYSE:AA) has risen 9.82% since March 3, 2016 and is uptrending. It has outperformed by 1.48% the S&P500.
Analysts await Alcoa Inc (NYSE:AA) to report earnings on October, 13. They expect $0.11 EPS, up 57.14% or $0.04 from last year’s $0.07 per share. AA’s profit will be $147.54 million for 71.59 P/E if the $0.11 EPS becomes a reality. After $0.15 actual EPS reported by Alcoa Inc for the previous quarter, Wall Street now forecasts -26.67% negative EPS growth.
Alcoa Inc (NYSE:AA) Ratings Coverage
Out of 17 analysts covering Alcoa Inc. (NYSE:AA), 10 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 59% are positive. $15 is the highest target while $9 is the lowest. The $11.81 average target is -62.51% below today’s ($31.5) stock price. Alcoa Inc. has been the topic of 27 analyst reports since August 4, 2015 according to StockzIntelligence Inc. On Friday, October 9 the stock rating was maintained by Stifel Nicolaus with “Buy”. The stock of Alcoa Inc (NYSE:AA) earned “Buy” rating by Bank of America on Tuesday, September 8. The firm earned “Outperform” rating on Friday, March 11 by Credit Suisse. The firm has “Outperform” rating by Macquarie Research given on Friday, January 8. As per Tuesday, September 29, the company rating was maintained by S&P Research. The stock of Alcoa Inc (NYSE:AA) earned “Market Perform” rating by BMO Capital Markets on Tuesday, January 12. The stock of Alcoa Inc (NYSE:AA) earned “Overweight” rating by Morgan Stanley on Thursday, June 30. The stock has “Hold” rating given by Argus Research on Thursday, January 14. On Monday, November 9 the stock rating was downgraded by Nomura to “Neutral”. As per Tuesday, April 26, the company rating was initiated by Rosenblatt.
According to Zacks Investment Research, “Alcoa Inc. is the world’s leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa’s businesses to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap foils and plastic wraps, Alcoa wheels, and Baco household wraps. Among its other businesses are closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks.”
Insitutional Activity: The institutional sentiment decreased to 0.99 in Q2 2016. Its down 0.04, from 1.03 in 2016Q1. The ratio worsened, as 47 funds sold all Alcoa Inc shares owned while 191 reduced positions. 51 funds bought stakes while 185 increased positions. They now own 775.17 million shares or 3.51% more from 748.92 million shares in 2016Q1.
The New York-based Qs Investors Llc has invested 0% in Alcoa Inc (NYSE:AA). Jefferies Gru Ltd Liability last reported 0.01% of its portfolio in the stock. Hartford Management, a Connecticut-based fund reported 400 shares. Nippon Life Ins Co has 0.01% invested in the company for 64,088 shares. Wetherby Asset holds 14,107 shares or 0.03% of its portfolio. The New Jersey-based Systematic Financial Mgmt Lp has invested 0.6% in Alcoa Inc (NYSE:AA). Moreover, Allianz Asset Mngmt Ag has 0.01% invested in Alcoa Inc (NYSE:AA) for 2.23 million shares. D L Carlson Investment Group Incorporated, a New Hampshire-based fund reported 14,000 shares. Norinchukin Bank The owns 68,980 shares or 0.02% of their US portfolio. Barclays Plc accumulated 1.86M shares or 0.02% of the stock. Robecosam Ag reported 640,000 shares or 0.53% of all its holdings. Moreover, Franklin Inc has 0% invested in Alcoa Inc (NYSE:AA) for 881,027 shares. Guggenheim Limited reported 4.12M shares or 0.12% of all its holdings. Fukoku Mutual Life holds 5,580 shares or 0.01% of its portfolio. Gam Hldgs Ag reported 1.96 million shares or 0.28% of all its holdings.
Insider Transactions: Since April 20, 2016, the stock had 6 buys, and 1 sale for $59,530 net activity. The insider TATA RATAN bought $22,285. On Wednesday, April 20 the insider SORRELL MARTIN bought $21,746. SCHMIDT ULRICH bought $52,000 worth of stock. Jarrault Olivier M sold $131,046 worth of Alcoa Inc (NYSE:AA) on Monday, April 25.
More notable recent Alcoa Inc (NYSE:AA) news were published by: Seekingalpha.com which released: “Alcoa: Don’t Sell Now” on October 06, 2016, also Marketwatch.com with their article: “Alcoa Inc. board OKs split into Alcoa Corp., Arconic” published on September 29, 2016, Fool.com published: “Better Buy: Alcoa Inc. vs. Freeport-McMoRan” on September 27, 2016. More interesting news about Alcoa Inc (NYSE:AA) were released by: Businesswire.com and their article: “Alcoa Inc. Board of Directors Approves Separation of Company” published on September 29, 2016 as well as Fool.com‘s news article titled: “Alcoa Inc Takes Steps Forward in Plans to Split” with publication date: September 16, 2016.
AA Company Profile
Alcoa Inc., incorporated on September 18, 1888, is engaged in lightweight metals engineering and manufacturing. The Firm operates in five divisions: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, gas and oil, and industrial applications. It is also engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined, through its participation in various aspects of the industry, including technology, mining, refining, smelting, fabricating and recycling. It has activities in approximately 30 countries. The Firm has investments and operating activities in Australia, Brazil, China, Guinea, Iceland, Russia and Saudi Arabia, among others. The Firm also refines alumina from bauxite ore.
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