Lucas Pipes, an esteemed analyst at B. Riley Securities, has recently expressed his outlook on Alcoa (NYSE:AA). With a keen focus on the Basic Materials sector and an impressive coverage of 70 stocks, Pipes maintains a Neutral rating on Alcoa but has revised the price target from $37 to $34.
With extensive experience as an investment professional, Pipes possesses expert knowledge in the metals and mining sector. Throughout his career, he has successfully covered 39 stocks, boasting a remarkable success rate of 46.27% and an average return of 5.06%.
B. Riley Financial, the parent company of B. Riley Securities, is renowned for its differentiated thematic and proprietary research. The analysts at B. Riley Securities have established strong relationships with investors, contributing to their reputation as a trusted source of information and analysis.
As of July 21, 2023, these insights from Lucas Pipes provide valuable guidance for investors navigating the Alcoa market.
AA Stock Performance on July 21, 2023: Mixed Results with Revenue Growth and Declining Earnings
On July 21, 2023, the Stock Performance of AA (Alcoa Corporation) showed some interesting movements. The previous close of the stock was $32.68, and it opened at $35.41. Throughout the day, it had a range of $32.67 to $35.75. The trading volume was 20,587. The market cap of AA stands at $6.2 billion.
When looking at the earnings growth, it is evident that AA has experienced a decline. The earnings growth for the last year was -129.47%, and for this year, it was -112.64%. Looking ahead, the projected earnings growth for the next five years is -51.93%.
On a positive note, AA has shown some revenue growth. The revenue growth for the last year was +2.61%. However, it is important to note that this growth is not sufficient to offset the significant decline in earnings. The price-to-sales ratio for AA is 0.64.
The price/book ratio for AA is 1.20, which suggests that the stock is trading at a reasonable valuation based on its book value.
In comparison to other companies in the aluminum industry, Century Aluminum Co (CENX) had a decline of -3.95% in its stock price on the same day. Tredegar Corp (TGT) had a minimal change of -0.08%.
AA operates in the non-energy minerals sector, specifically in the aluminum industry. The company does not have any executives listed, and its corporate headquarters are located in Pittsburgh, Pennsylvania.
In conclusion, AA’s stock performance on July 21, 2023, showed mixed results. While the stock had a positive revenue growth, it experienced significant declines in earnings. Investors should carefully analyze the company’s financials and industry trends before making any investment decisions.
Alcoa Corps Positive Stock Performance Signals Growth Potential: Analysts Consensus Buy Rating and $41.30 Target Price
Alcoa Corp, a leading global aluminum producer, has been attracting attention from investors due to its positive stock performance on July 21, 2023. According to data from CNN Money, the 12 analysts offering 12-month price forecasts for Alcoa Corp have a median target of $41.30, with a high estimate of $55.00 and a low estimate of $25.00. This indicates a potential increase of 26.34% from the last recorded price of $32.69.
The consensus among 14 polled investment analysts is to buy stock in Alcoa Corp. This rating has remained steady since July, indicating a continued positive outlook for the company.
In terms of financial performance, Alcoa Corp reported an earnings per share of -$0.27 for the current quarter. This indicates a loss, but it is important to note that earnings per share can vary significantly from quarter to quarter in the volatile commodities industry. The company’s sales for the quarter amounted to $2.7 billion.
Investors should keep an eye on Alcoa Corp’s upcoming reporting date, which is set for October 12. This will provide further insights into the company’s financial performance and may impact its stock price.
Alcoa Corp’s positive stock performance on July 21, 2023, is indicative of the market’s confidence in the company. With a consensus buy rating from investment analysts and a median target price of $41.30, investors are optimistic about the company’s potential for growth. However, it is important for investors to conduct their own research and consider their risk tolerance before making any investment decisions.
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