Alcoa Corp. (AA) Stock Rating Reaffirmed by BMO Capital Markets
Alcoa Corp. (NYSE:AA)‘s stock had its “buy” rating reaffirmed by analysts at BMO Capital Markets in a report released on Wednesday. They currently have a $60.00 price objective on the industrial products company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 41.84% from the company’s previous close.
A number of other research firms have also commented on AA. Gabelli lowered Alcoa Corp. from a “buy” rating to a “hold” rating and raised their price target for the stock from $57.00 to $60.00 in a report on Wednesday, October 4th. Berenberg Bank set a $44.00 price target on Alcoa Corp. and gave the company a “hold” rating in a research report on Wednesday, October 18th. J P Morgan Chase & Co restated a “buy” rating and set a $60.00 price target on shares of Alcoa Corp. in a research report on Thursday, October 19th. Macquarie reiterated a “buy” rating and issued a $62.00 price objective (up previously from $55.00) on shares of Alcoa Corp. in a report on Tuesday, October 10th. Finally, Cowen and Company set a $51.00 price target on Alcoa Corp. and gave the company a “hold” rating in a report on Wednesday, October 11th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $49.88.
Shares of Alcoa Corp. (AA) opened at $42.30 on Wednesday. Alcoa Corp. has a 52-week low of $28.01 and a 52-week high of $50.31. 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 company has a market capitalization of $7,809.82 and a PE ratio of 20.00.
Alcoa Corp. (NYSE:AA) last announced 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 firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. Alcoa Corp. had a return on equity of 4.90% and a net margin of 2.61%. The firm’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. research analysts forecast that Alcoa Corp. will post 3.24 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Huntington National Bank bought a new position in shares of Alcoa Corp. in the 3rd quarter valued at about $112,000. Sigma Planning Corp bought a new position in shares of Alcoa Corp. in the 3rd quarter valued at about $206,000. Pacer Advisors Inc. lifted its holdings in shares of Alcoa Corp. by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 4,488 shares of the industrial products company’s stock valued at $147,000 after acquiring an additional 348 shares during the last quarter. First Allied Advisory Services Inc. bought a new position in shares of Alcoa Corp. in the 3rd quarter valued at about $211,000. Finally, Zweig DiMenna Associates LLC bought a new position in shares of Alcoa Corp. in the 3rd quarter valued at about $214,000.
About Alcoa Corp.
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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