Alcoa (NYSE:AA) had its price target increased by equities research analysts at Credit Suisse Group from $61.00 to $71.00 in a research note issued to investors on Thursday. The firm currently has an “outperform” rating on the industrial products company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 18.31% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets reiterated an “outperform” rating and set a $80.00 price target on shares of Alcoa in a report on Thursday. Cowen reiterated a “hold” rating and set a $51.00 price target on shares of Alcoa in a report on Monday, April 9th. ValuEngine upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Citigroup cut their price target on shares of Alcoa from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, April 9th. Finally, JPMorgan Chase increased their price target on shares of Alcoa to $68.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $61.40.
Shares of AA opened at $60.01 on Thursday. The stock has a market capitalization of $11,213.36, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.86 and a beta of 0.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.30. Alcoa has a fifty-two week low of $29.55 and a fifty-two week high of $62.35.
Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, April 18th. The industrial products company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.17. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Alcoa had a net margin of 1.17% and a return on equity of 7.67%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. equities analysts predict 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 firm’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 value of $513,700.00. Following the sale, the chief operating officer now owns 46,832 shares in the company, valued at $2,405,759.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William F. Oplinger sold 229,475 shares of the firm’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 completion of the sale, the vice president now owns 108,915 shares in the company, valued at approximately $5,757,246.90. The disclosure for this sale can be found here.
Hedge funds have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. purchased a new stake in Alcoa in the fourth quarter worth approximately $103,000. Cerebellum GP LLC purchased a new stake in Alcoa in the fourth quarter worth approximately $127,000. Barrett Asset Management LLC purchased a new stake in Alcoa in the fourth quarter worth approximately $129,000. Fruth Investment Management purchased a new stake in Alcoa in the fourth quarter worth approximately $200,000. Finally, HL Financial Services LLC purchased a new stake in Alcoa in the fourth quarter worth approximately $200,000.
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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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