Alcoa (NYSE:AA) had its target price boosted by Citigroup to $65.00 in a research note published on Thursday morning, The Fly reports. They currently have a buy rating on the industrial products company’s stock.
Several other equities analysts have also recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of Alcoa from $45.00 to $60.00 and gave the company an outperform rating in a research report on Wednesday, September 13th. JPMorgan Chase & Co. reiterated a buy rating and set a $60.00 price target on shares of Alcoa in a research report on Thursday, October 19th. Zacks Investment Research upgraded shares of Alcoa from a hold rating to a buy rating and set a $50.00 price target on the stock in a research report on Thursday, September 14th. Gabelli cut shares of Alcoa from a buy rating to a hold rating and boosted their price target for the company from $57.00 to $60.00 in a research report on Wednesday, October 4th. Finally, Credit Suisse Group raised shares of Alcoa from a neutral rating to an outperform rating and boosted their price objective for the stock from $42.00 to $61.00 in a research note on Wednesday, December 20th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $53.74.
Shares of Alcoa (AA) traded down $0.15 during midday trading on Thursday, hitting $56.76. 4,191,600 shares of the company traded hands, compared to its average volume of 3,990,000. Alcoa has a one year low of $29.55 and a one year high of $57.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 0.90. The stock has a market capitalization of $10,500.00 and a PE ratio of 38.88.
Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.05). Alcoa had a net margin of 2.61% and a return on equity of 4.90%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. Alcoa’s quarterly revenue was up 27.3% compared to the same quarter last year. equities analysts anticipate that Alcoa will post 3.19 EPS for the current year.
A number of large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its stake in Alcoa by 0.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,996 shares of the industrial products company’s stock worth $1,175,000 after acquiring an additional 104 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Alcoa by 2.3% in the second quarter. Private Advisor Group LLC now owns 9,433 shares of the industrial products company’s stock worth $322,000 after buying an additional 208 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Alcoa by 3.8% in the second quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock worth $189,000 after buying an additional 213 shares in the last quarter. Veritable L.P. lifted its stake in shares of Alcoa by 4.0% in the second quarter. Veritable L.P. now owns 7,887 shares of the industrial products company’s stock worth $258,000 after buying an additional 300 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Alcoa 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 in the last quarter.
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Alcoa 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.
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