Alcoa (NYSE:AA) had its price target increased by Citigroup to $65.00 in a research report sent to investors on Thursday, January 11th, The Fly reports. Citigroup currently has a buy rating on the industrial products company’s stock.
Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reiterated a buy rating and issued a $60.00 target price on shares of Alcoa in a report on Thursday, October 19th. Berenberg Bank downgraded shares of Alcoa from a buy rating to a hold rating and lifted their target price for the stock from $41.00 to $44.00 in a report on Friday, September 22nd. Gabelli downgraded 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 report on Wednesday, October 4th. BMO Capital Markets boosted their price objective on shares of Alcoa from $45.00 to $60.00 and gave the stock an outperform rating in a report on Wednesday, September 13th. Finally, Morgan Stanley restated an overweight rating and set a $47.00 price objective on shares of Alcoa in a report on Wednesday, September 20th. Four research 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. The stock currently has an average rating of Buy and a consensus price target of $57.72.
Shares of Alcoa (NYSE AA) traded down $0.63 during trading hours on Thursday, hitting $48.46. 3,870,000 shares of the company’s stock were exchanged, compared to its average volume of 4,710,000. The firm has a market cap of $8,970.00 and a price-to-earnings ratio of 41.78. Alcoa has a 52 week low of $29.55 and a 52 week 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.
Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 17th. The industrial products company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.19). The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.29 billion. Alcoa had a net margin of 1.86% and a return on equity of 6.90%. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 EPS. sell-side analysts expect that Alcoa 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 that occurred 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 completion of the sale, the chief operating officer now directly owns 46,832 shares of the company’s stock, valued at $2,405,759.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP William F. Oplinger sold 229,475 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 108,915 shares of the company’s stock, valued at $5,757,246.90. The disclosure for this sale can be found here.
Several institutional investors and hedge funds have recently bought and sold shares of AA. Elliott Management Corp increased its stake in Alcoa by 14.7% in the second quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock valued at $383,228,000 after purchasing an additional 1,500,000 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Alcoa by 13.4% in the second quarter. Parametric Portfolio Associates LLC now owns 418,466 shares of the industrial products company’s stock valued at $13,663,000 after buying an additional 49,441 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Alcoa by 1.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 220,201 shares of the industrial products company’s stock valued at $10,266,000 after buying an additional 2,790 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Alcoa by 14.5% in the second quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock valued at $484,895,000 after buying an additional 1,885,745 shares during the period. Finally, Cipher Capital LP acquired a new position in shares of Alcoa in the third quarter valued at approximately $646,000.
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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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