Alcoa (NYSE:AA) had its target price hoisted by Citigroup to $65.00 in a report published on Thursday, The Fly reports. The brokerage currently has a buy rating on the industrial products company’s stock.
AA has been the topic of a number of other research reports. Macquarie reaffirmed a buy rating and issued a $62.00 price objective (up previously from $55.00) on shares of Alcoa in a report on Tuesday, October 10th. Zacks Investment Research raised shares of Alcoa from a hold rating to a buy rating and set a $50.00 price objective on the stock in a report on Thursday, September 14th. Morgan Stanley set a $55.00 price objective on shares of Alcoa and gave the stock a buy rating in a report on Tuesday, December 19th. BMO Capital Markets reaffirmed a buy rating and issued a $60.00 price objective on shares of Alcoa in a report on Wednesday, November 15th. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and issued a $60.00 price objective on shares of Alcoa in a report on Thursday, October 19th. 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 an average target price of $53.74.
Shares of Alcoa (AA) opened at $56.76 on Thursday. The stock has a market cap of $10,500.00 and a price-to-earnings ratio of 38.88. 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 has a twelve month low of $29.55 and a twelve month high of $57.50.
Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.05). The company 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%. The company’s revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 earnings per share. equities analysts predict that Alcoa will post 3.19 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of AA. Huntington National Bank acquired a new position in shares of Alcoa in the third quarter worth about $112,000. Pacer Advisors Inc. boosted its holdings in shares of Alcoa by 8.4% in the second quarter. Pacer Advisors Inc. now owns 4,488 shares of the industrial products company’s stock worth $147,000 after buying an additional 348 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Alcoa by 3.8% in the second quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock worth $189,000 after buying an additional 213 shares during the period. Fruth Investment Management acquired a new position in shares of Alcoa in the fourth quarter worth about $200,000. Finally, Sigma Planning Corp acquired a new position in shares of Alcoa in the third quarter worth about $206,000.
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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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