Alcoa (NYSE:AA) Receives “Buy” Rating from BMO Capital Markets

Alcoa (NYSE:AA)‘s stock had its “buy” rating reissued by research analysts at BMO Capital Markets in a research note issued to investors on Friday, December 22nd. They presently have a $65.00 price target on the industrial products company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 14.52% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Deutsche Bank raised shares of Alcoa from a “hold” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $60.00 in a research report on Tuesday, September 12th. Credit Suisse Group raised shares of Alcoa from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $42.00 to $61.00 in a research report on Wednesday, December 20th. Citigroup set a $55.00 price objective on shares of Alcoa and gave the company a “buy” rating in a report on Wednesday, November 29th. Morgan Stanley set a $55.00 price objective on shares of Alcoa and gave the company a “buy” rating in a report on Tuesday, December 19th. Finally, Cowen set a $51.00 price objective on shares of Alcoa and gave the company a “hold” rating in a report on Wednesday, October 11th. Four 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’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $53.74.

Shares of Alcoa (AA) traded down $0.15 on Friday, reaching $56.76. 4,191,600 shares of the company were exchanged, 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 quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.17. The company has a market cap of $10,500.00 and a price-to-earnings ratio of 38.88.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $0.72 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 business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. equities analysts predict that Alcoa will post 3.19 EPS for the current year.

A number of large investors have recently bought and sold shares of AA. Canada Pension Plan Investment Board grew its holdings in shares of Alcoa by 1,069,180.0% during the second quarter. Canada Pension Plan Investment Board now owns 106,928 shares of the industrial products company’s stock worth $3,491,000 after buying an additional 106,918 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Alcoa by 15.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 711,148 shares of the industrial products company’s stock worth $23,219,000 after buying an additional 97,371 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Alcoa by 14.3% during the second quarter. Rhumbline Advisers now owns 172,839 shares of the industrial products company’s stock worth $5,643,000 after buying an additional 21,642 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Alcoa by 12.4% during the second quarter. Advisors Asset Management Inc. now owns 16,856 shares of the industrial products company’s stock worth $550,000 after buying an additional 1,861 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its holdings in shares of Alcoa by 9.5% during the second quarter. State of Wisconsin Investment Board now owns 146,169 shares of the industrial products company’s stock worth $4,772,000 after buying an additional 12,650 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.

Analyst Recommendations for Alcoa (NYSE:AA)

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