Alcoa (NYSE:AA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, January 22nd. The brokerage currently has a $61.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 25.88% from the company’s current price.
According to Zacks, “Alcoa is a global industry leader in bauxite, alumina and aluminum products. “
Several other research analysts also recently commented on AA. Citigroup reissued a “buy” rating and issued a $53.00 price objective on shares of Alcoa in a research note on Friday, September 29th. Cowen set a $51.00 target price on Alcoa and gave the company a “hold” rating in a report on Wednesday, October 11th. Macquarie restated a “buy” rating and issued a $62.00 target price (up from $55.00) on shares of Alcoa in a report on Tuesday, October 10th. Bank of America restated a “buy” rating and issued a $63.00 target price (down from $67.00) on shares of Alcoa in a report on Thursday, January 18th. Finally, JPMorgan Chase & Co. upped their target price on Alcoa to $68.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Alcoa has an average rating of “Buy” and a consensus target price of $57.72.
Alcoa (NYSE:AA) traded down $0.63 during midday trading on Monday, reaching $48.46. The company had a trading volume of 3,863,806 shares, compared to its average volume of 4,829,521. Alcoa has a 1 year low of $29.55 and a 1 year high of $57.50. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. The firm has a market cap of $9,200.00 and a P/E ratio of 41.78.
Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, January 17th. The industrial products company reported $1.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.19). Alcoa had a net margin of 1.86% and a return on equity of 6.90%. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period in the prior year, the company posted $0.14 earnings per share. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. research analysts predict that Alcoa will post 3.64 EPS for the current fiscal year.
In related news, VP William F. Oplinger sold 229,475 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $52.86, for a total transaction of $12,130,048.50. Following the completion of the transaction, the vice president now directly owns 108,915 shares in the company, valued at approximately $5,757,246.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Tomas Mar Sigurdsson sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $51.37, for a total value of $513,700.00. Following the transaction, the chief operating officer now owns 46,832 shares of the company’s stock, valued at $2,405,759.84. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in AA. Calton & Associates Inc. acquired a new stake in Alcoa in the 4th quarter valued at about $305,000. Meeder Asset Management Inc. acquired a new stake in Alcoa in the 4th quarter valued at about $783,000. Public Employees Retirement Association of Colorado raised its position in Alcoa by 3.9% in 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 purchasing an additional 1,178 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Alcoa in the 4th quarter valued at about $488,000. Finally, Monarch Partners Asset Management LLC acquired a new stake in Alcoa in the 4th quarter valued at about $9,445,000.
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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