Alcoa Corporation (NYSE:AA) has a beta value of 2.25 and has seen 1,367,792 shares traded in the recent trading session. The company, currently valued at $2.73 Billion, closed the recent trade at $14.27 per share which meant it gained $0.22 on the day or 1.57% during that session. The AA stock price is -64.47% off its 52-week high price of $23.47 and 63.84% above the 52-week low of $5.16. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.82 Million shares traded. The 3-month trading volume is 6.49 Million shares.
The consensus among analysts is that Alcoa Corporation (AA) is an Overweight stock at the moment, with a recommendation rating of 2.5. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 8 out of 13 have rated it as a Hold, with 5 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.58.
Alcoa Corporation (NYSE:AA) trade information
Sporting 1.57% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Sep 09 when the AA stock price touched $14.40- or saw a rise of 0.28%. Year-to-date, Alcoa Corporation shares have moved -33.24%, while the 5-day performance has seen it change 0.91%. Over the past 30 days, the shares of Alcoa Corporation (NYSE:AA) have changed -1.91%. Short interest in the company has seen 13.04 Million shares shorted with days to cover at 2.01.
Wall Street analysts have a consensus price target for the stock at $13.5, which means that the shares’ value could jump -5.4% from current levels. The projected low price target is $11 while the price target rests at a high of $17. In that case, then, we find that the current price level is +19.13% off the targeted high while a plunge would see the stock lose -22.92% from current levels.
Alcoa Corporation (AA) estimates and forecasts
Figures show that Alcoa Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained +106.01% over the past 6 months, with this year growth rate of -1.01%, compared to -20.8% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -31.8% and 32.3% for the next quarter. Revenue growth from the last financial year stood is estimated to be -9.7%.
6 analysts offering their estimates for the company have set an average revenue estimate of $2.19 Billion for the current quarter. 5 have an estimated revenue figure of $2.29 Billion for the next quarter concluding in December 01, 2020. Year-ago sales stood $2.57 Billion and $2.44 Billion respectively for this quarter and the next, and analysts expect sales will grow by -14.8% for the current quarter and -6.1% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -34.1% over the past 5 years. Earnings growth for 2020 is a modest -559.7%.
Alcoa Corporation (NYSE:AA)’s Major holders
Insiders own 0.38% of the company shares, while shares held by institutions stand at 77.21% with a share float percentage of 77.5%. Investors are also buoyed by the number of investors in a company, with Alcoa Corporation having a total of 450 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 17.67 Million shares worth more than $198.61 Million. As of June 29, 2020, Vanguard Group, Inc. (The) held 9.5% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 15.29 Million shares as of June 29, 2020. The firm’s total holdings are worth over $171.89 Million and represent 8.23% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. As of June 29, 2020, the former fund manager holds about 2.84% shares in the company for having 5286027 shares of worth $59.41 Million while later fund manager owns 4.65 Million shares of worth $52.22 Million as of June 29, 2020, which makes it owner of about 2.5% of company’s outstanding stock.