Alcoa (AA) : 5 brokerage houses believe that Alcoa (AA) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Alcoa (AA). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 11 Wall Street Analysts endorse the stock as a Buy with a rating of 2.14.
Alcoa (AA) stock is expected to deviate a maximum of $1.97 from the average target price of $11.09 for the short term period. 11 Street Experts have initiated coverage on the stock with the most promising target being $14 and the most muted being $8.
For the current week, the company shares have a recommendation consensus of Buy. Alcoa (NYSE:AA): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.35 and $10.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.44. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.42, notching a gain of 0.87% for the day. The total traded volume was 9,894,143 . The stock had closed at $10.33 on the previous day.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Alcoa Inc., Sorrell Martin, had purchased 1,990 shares in a transaction dated on July 13, 2016. The transaction was executed at $10.73 per share with total amount equaling $21,353.
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.