Stocks of Alcoa Corp (NYSE:AA) traded higher last session on Wall Street, down -3.69% to $37.35.
AA stock price is now -8.30% away from the 50-day moving average and -1.99% away from the 200-day moving average. The market capitalization of the company currently stands at $9.65B.
With the price target maintained at $48, Argus recently Upgraded its rating from Hold to Buy for Alcoa Corp (NYSE: AA). On October 17, 2024, B. Riley Securities Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $41 to quote $50, while ‘BofA Securities’ rates the stock as ‘Buy’
In other news, Bacchi Renato, EVP & Chief Commercial Officer sold 23,867 shares of the company’s stock on Oct 22 ’24. The stock was sold for $1,009,431 at an average price of $42.29. Upon completion of the transaction, the EVP & Chief Commercial Officer now directly owns 57,317 shares in the company, valued at $2.14 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 22 ’24, Officer Bacchi Renato bought 23,867 shares of the business’s stock. A total of $1,009,430 was incurred on buying the stock at an average price of $42.29. A total of 0.76% of the company’s stock is owned by insiders.
During the past 12 months, Alcoa Corp has had a low of $24.86 and a high of $47.77. As of last week, the company has a debt-to-equity ratio of 0.49, a current ratio of 1.45, and a quick ratio of 0.86. The fifty day moving average price for AA is $40.8992 and a two-hundred day moving average price translates $38.10325 for the stock.
The latest earnings results from Alcoa Corp (NYSE: AA) was released for 2024-09-30. The net profit margin was 0.51% and return on equity was 1.28% for AA. The company reported revenue of $2.9 billion for the quarter, compared to $2.6 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.61 percent. For the current quarter, analysts expect AA to generate $3.54B in revenue.
