Morgan Stanley set a $55.00 price objective on Alcoa (NYSE:AA) in a report issued on Tuesday, December 19th. The firm currently has a buy rating on the industrial products company’s stock.
A number of other brokerages have also recently weighed in on AA. Gabelli cut shares of Alcoa from a buy rating to a hold rating and boosted their price objective for the stock from $57.00 to $60.00 in a research note on Wednesday, October 4th. Zacks Investment Research upgraded shares of Alcoa from a hold rating to a buy rating and set a $50.00 price objective for the company in a research note on Thursday, September 14th. Berenberg Bank set a $44.00 price objective on shares of Alcoa and gave the stock a hold rating in a research note on Wednesday, October 18th. Deutsche Bank upgraded shares of Alcoa from a hold rating to a buy rating and boosted their price objective for the stock from $44.00 to $60.00 in a research note on Tuesday, September 12th. Finally, Macquarie initiated coverage on shares of Alcoa in a research report on Thursday, September 7th. They set an outperform rating on the stock. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $53.74.
Alcoa (AA) traded down $0.15 during midday trading on Tuesday, reaching $56.76. 4,191,600 shares of the company’s stock were exchanged, compared to its average volume of 3,990,000. 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 firm has a market capitalization of $10,500.00 and a PE ratio of 38.88. Alcoa has a 1 year low of $29.55 and a 1 year high of $57.50.
Alcoa (NYSE:AA) last posted its earnings results on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.05). The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.95 billion. Alcoa had a net margin of 2.61% and a return on equity of 4.90%. Alcoa’s revenue was up 27.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. analysts expect that Alcoa will post 3.19 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in AA. Old Mutual Global Investors UK Ltd. increased its holdings in Alcoa by 163.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 4,539,019 shares of the industrial products company’s stock valued at $148,198,000 after buying an additional 2,816,320 shares during the period. BT Investment Management Ltd acquired a new stake in shares of Alcoa in the 2nd quarter valued at $83,380,000. Point72 Asset Management L.P. acquired a new stake in shares of Alcoa in the 3rd quarter valued at $99,757,000. Vanguard Group Inc. boosted its stake in shares of Alcoa by 14.5% in the 2nd quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock valued at $484,895,000 after purchasing an additional 1,885,745 shares in the last quarter. Finally, Orbis Allan Gray Ltd boosted its stake in shares of Alcoa by 454.2% in the 2nd quarter. Orbis Allan Gray Ltd now owns 1,928,763 shares of the industrial products company’s stock valued at $62,974,000 after purchasing an additional 1,580,729 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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