Price Target Update on Alcoa (NYSE:AA)

Alcoa (NYSE:AA) : The highest level Alcoa (NYSE:AA) is projected to reach is $14 for the short term and the lowest estimate is at $7. The consolidated price target from 11 rating analysts who initiate coverage on the stock is $10.91 and the possibility the share price can swing is $2.12.

Other Equity analysts have also commented on the company shares. Major Brokerage house, Bank of America upgrades its ratings on Alcoa (NYSE:AA). According to the latest information available, the shares are now rated Buy by the analysts at the agency. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on May 23, 2016.

Alcoa (NYSE:AA): stock turned positive on Thursday. Though the stock opened at $10.08, the bulls momentum made the stock top out at $10.17 level for the day. The stock recorded a low of $9.98 and closed the trading day at $10.15, in the green by 2.63%. The total traded volume for the day was 20,543,048. The stock had closed at $9.89 in the previous days trading.

The company shares have dropped -14.52% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $11.77 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $9.52 and the 200 Day Moving Average price is recorded at $9.14. On the companys insider trading activities, Schmidt Ulrich, director of Alcoa Inc., executed a transaction worth $51,250 on April 26, 2016. A total of 5,000 shares were purchased at an average price of $10.25. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

Alcoa Inc. (Alcoa) is engaged in lightweight metals engineering and manufacturing. The Company operates in four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions. Its products, which include aluminum, titanium and nickel, are used in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, consumer electronics, and industrial applications across the world. It also produces and manages primary aluminum, fabricated aluminum and alumina combined, through its active participation in the aspects of the industry, including technology, mining, refining, smelting, fabricating, and recycling. The Company has investments and operating activities in Australia, Brazil, China, Guinea, Iceland, Russia and Saudi Arabia, among others. It produces three dimensional (3D-printed) titanium, specialty metals and plastic parts for aerospace, medical and energy applications.

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