Alcoa Corp. (NYSE:AA) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $40.04 and last traded at $40.01, with a volume of 6,760,230 shares trading hands. The stock had previously closed at $37.99.

A number of research analysts have issued reports on the stock. BMO Capital Markets set a $45.00 target price on shares of Alcoa Corp. and gave the company a “buy” rating in a research report on Saturday. Clarkson Capital restated a “buy” rating on shares of Alcoa Corp. in a research report on Thursday, July 20th. Citigroup Inc. restated a “buy” rating and set a $45.00 target price on shares of Alcoa Corp. in a research report on Saturday, July 22nd. Morgan Stanley reiterated an “overweight” rating on shares of Alcoa Corp. in a research report on Friday, July 21st. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $44.00 price target (up from $37.00) on shares of Alcoa Corp. in a research report on Sunday, June 25th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $38.83.

The firm has a market capitalization of $7.32 billion and a price-to-earnings ratio of 44.8354. The stock has a 50 day moving average price of $33.95 and a 200-day moving average price of $34.19.

Alcoa Corp. (NYSE:AA) last released 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 company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Alcoa Corp. had a return on equity of 3.29% and a net margin of 1.63%. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. Equities analysts anticipate that Alcoa Corp. will post $2.80 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AA. TSP Capital Management Group LLC boosted its position in Alcoa Corp. by 2.5% in the second quarter. TSP Capital Management Group LLC now owns 76,611 shares of the industrial products company’s stock worth $2,501,000 after buying an additional 1,896 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its position in shares of Alcoa Corp. by 46.2% in the second quarter. OMERS ADMINISTRATION Corp now owns 11,400 shares of the industrial products company’s stock worth $372,000 after buying an additional 3,600 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Alcoa Corp. during the second quarter worth about $502,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Alcoa Corp. by 17.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,415 shares of the industrial products company’s stock worth $275,000 after buying an additional 1,254 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Alcoa Corp. by 8.4% in the second quarter. Pacer Advisors Inc. now owns 4,488 shares of the industrial products company’s stock worth $147,000 after buying an additional 348 shares during the last quarter.

COPYRIGHT VIOLATION WARNING: This piece was published by Daily Political and is owned by of Daily Political. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/08/08/alcoa-corp-aa-hits-new-12-month-high-at-40-04.html.

Alcoa Corp. Company Profile

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.

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.