Alcoa (NYSE:AA) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Alcoa (NYSE:AA) from a hold rating to a buy rating in a research report report published on Friday, February 2nd.

A number of other research analysts have also issued reports on the stock. BMO Capital Markets restated a buy rating and set a $65.00 target price on shares of Alcoa in a research report on Friday, December 22nd. Macquarie reaffirmed a buy rating and set a $62.00 price target (up previously from $55.00) on shares of Alcoa in a research note on Tuesday, October 10th. Cowen reaffirmed a market perform rating and set a $59.00 price target (up previously from $51.00) on shares of Alcoa in a research note on Thursday, January 18th. JPMorgan Chase & Co. raised their price target on shares of Alcoa to $68.00 and gave the company an overweight rating in a research note on Thursday, January 18th. Finally, Credit Suisse Group upgraded shares of Alcoa from a neutral rating to an outperform rating and increased their price objective for the stock from $42.00 to $61.00 in a research report on Wednesday, December 20th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $57.72.

Alcoa (AA) opened at $46.65 on Friday. The firm has a market cap of $8,504.42, a price-to-earnings ratio of 40.57, a PEG ratio of 1.44 and a beta of -3.13. Alcoa has a 52-week low of $29.55 and a 52-week 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.

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 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 company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the firm posted $0.14 earnings per share. The company’s revenue was up 25.1% compared to the same quarter last year. research analysts anticipate that Alcoa will post 3.69 EPS for the current year.

In other Alcoa news, COO Tomas Mar Sigurdsson sold 10,000 shares of Alcoa 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 sale, the chief operating officer now owns 46,832 shares of the company’s stock, valued at $2,405,759.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP William F. Oplinger sold 229,475 shares of Alcoa 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 sale, the vice president now directly 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 and hedge funds have recently bought and sold shares of AA. Elliott Management Corp grew its stake in Alcoa by 14.7% during 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 acquiring an additional 1,500,000 shares in the last quarter. BlackRock Inc. grew its stake in Alcoa by 7.0% during the fourth quarter. BlackRock Inc. now owns 8,761,507 shares of the industrial products company’s stock valued at $471,984,000 after acquiring an additional 570,178 shares in the last quarter. State Street Corp grew its stake in Alcoa by 4.5% during the second quarter. State Street Corp now owns 3,506,524 shares of the industrial products company’s stock valued at $114,483,000 after acquiring an additional 151,562 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Alcoa by 88.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,700,684 shares of the industrial products company’s stock valued at $125,898,000 after acquiring an additional 1,264,324 shares in the last quarter. Finally, BT Investment Management Ltd grew its stake in Alcoa by 2.5% during the fourth quarter. BT Investment Management Ltd now owns 2,592,629 shares of the industrial products company’s stock valued at $139,665,000 after acquiring an additional 64,148 shares in the last quarter.

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About Alcoa

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Alcoa (NYSE:AA)

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