Alcoa Inc. Initiated with a Hold at Cowen & Co.

By Carrie Williams

Alcoa Inc. (NYSE: AA) received a Hold rating and a $29 price target from Cowen & Co. analyst Anthony Rizzuto today. The company’s shares closed last Friday at $25.20.

According to TipRanks.com, Rizzuto is a 1-star analyst with an average return of -2.1% and a 51.1% success rate. Rizzuto covers the Basic Materials sector, focusing on stocks such as Kaiser Aluminum Corp., United States Steel, and AK Steel Holding.

Currently, the analyst consensus on Alcoa Inc. is Moderate Buy and the average price target is $42, representing a 66.7% upside.

In a report issued on November 1, Macquarie also initiated coverage with a Hold rating on the stock with a $21 price target.

The company has a one year high of $32.10 and a one year low of $6.14. Currently, Alcoa Inc. has an average volume of 14.27M.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AA in relation to earlier this year. Most recently, in April 2015, Martin Sorrell, a Director at AA bought 3,245 shares for a total of $42,607.

Alcoa Corp. engages in the production of bauxite, alumina and aluminum products. The company is headquartered in New York, NY.