Alcoa (NYSE:AA)‘s stock had its “market perform” rating reissued by stock analysts at Cowen in a research note issued to investors on Thursday, January 18th, MarketBeat Ratings reports. They currently have a $59.00 price objective on the industrial products company’s stock, up from their prior price objective of $51.00. Cowen’s price objective suggests a potential upside of 28.48% from the company’s current price.
Several other brokerages also recently commented on AA. Gabelli downgraded Alcoa from a “buy” rating to a “hold” rating and raised their target price for the company from $57.00 to $60.00 in a report on Wednesday, October 4th. Citigroup lifted their target price on Alcoa to $65.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Berenberg Bank set a $44.00 price target on Alcoa and gave the stock a “hold” rating in a report on Wednesday, October 18th. Morgan Stanley set a $55.00 target price on Alcoa and gave the company a “buy” rating in a research note on Tuesday, December 19th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $60.00 target price on shares of Alcoa in a research note on Wednesday, November 15th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $57.72.
Shares of Alcoa (NYSE:AA) traded down $0.06 during midday trading on Thursday, reaching $45.92. The company’s stock had a trading volume of 4,569,076 shares, compared to its average volume of 4,720,000. Alcoa has a one year low of $29.55 and a one year high of $57.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.38. The stock has a market capitalization of $8,500.00 and a PE ratio of 39.59.
Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 17th. The industrial products company reported $1.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.19). The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Alcoa had a negative return on equity of 15.14% and a negative net margin of 1.76%. Alcoa’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. equities analysts predict that Alcoa will post 3.69 EPS for the current year.
In related news, COO Tomas Mar Sigurdsson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $51.37, for a total transaction of $513,700.00. Following the transaction, the chief operating officer now directly 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 this hyperlink. Also, VP William F. Oplinger sold 229,475 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $52.86, for a total value of $12,130,048.50. Following the transaction, the vice president now owns 108,915 shares in the company, valued at $5,757,246.90. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. acquired a new stake in Alcoa in the 4th quarter valued at about $103,000. Huntington National Bank acquired a new stake in Alcoa during the third quarter worth approximately $112,000. Cerebellum GP LLC acquired a new stake in Alcoa during the fourth quarter worth approximately $127,000. Barrett Asset Management LLC acquired a new stake in Alcoa during the fourth quarter worth approximately $129,000. Finally, Van ECK Associates Corp lifted its position in Alcoa by 3.8% during the second quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock worth $189,000 after acquiring an additional 213 shares during the last quarter.
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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