Investors Buy Alcoa (AA) on Weakness

Investors bought shares of Alcoa Corp (NYSE:AA) on weakness during trading hours on Friday. $69.18 million flowed into the stock on the tick-up and $34.69 million flowed out of the stock on the tick-down, for a money net flow of $34.49 million into the stock. Of all companies tracked, Alcoa had the 23rd highest net in-flow for the day. Alcoa traded down ($0.15) for the day and closed at $56.76

A number of research firms have weighed in on AA. JPMorgan Chase & Co. boosted their target price on shares of Alcoa from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday. ValuEngine raised shares of Alcoa from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research lowered shares of Alcoa from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 30th. Cowen set a $51.00 target price on shares of Alcoa and gave the stock a “hold” rating in a report on Wednesday, October 11th. Finally, Bank of America reissued a “buy” rating and set a $63.00 target price (down from $67.00) on shares of Alcoa in a report on Thursday, January 18th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $57.72.

The stock has a market capitalization of $9,200.00 and a PE ratio of 41.78. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.17.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, January 17th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.19). The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.29 billion. Alcoa had a return on equity of 6.90% and a net margin of 1.86%. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. sell-side analysts forecast that Alcoa Corp will post 3.64 earnings per share for the current year.

In related news, COO Tomas Mar Sigurdsson sold 10,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $51.37, for a total transaction of $513,700.00. Following the transaction, the chief operating officer now owns 46,832 shares in the company, valued at approximately $2,405,759.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William F. Oplinger sold 229,475 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $52.86, for a total transaction of $12,130,048.50. Following the transaction, the vice president now owns 108,915 shares in the company, valued at approximately $5,757,246.90. The disclosure for this sale can be found here.

Several institutional investors have recently added to or reduced their stakes in the stock. Calton & Associates Inc. acquired a new position in shares of Alcoa during the 4th quarter valued at $305,000. Meeder Asset Management Inc. acquired a new position in shares of Alcoa during the 4th quarter valued at $783,000. Public Employees Retirement Association of Colorado lifted its position in shares of Alcoa by 3.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 31,570 shares of the industrial products company’s stock valued at $1,701,000 after acquiring an additional 1,178 shares during the period. SeaCrest Wealth Management LLC acquired a new position in shares of Alcoa during the 4th quarter valued at $488,000. Finally, Monarch Partners Asset Management LLC acquired a new position in shares of Alcoa during the 4th quarter valued at $9,445,000.

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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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