Alcoa (NYSE:AA) Price Target Raised to $75.00 at BMO Capital Markets

Alcoa (NYSE:AA) had its target price upped by BMO Capital Markets from $65.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the industrial products company’s stock. BMO Capital Markets’ target price suggests a potential upside of 0.55% from the stock’s previous close.

Several other research firms have also commented on AA. Wells Fargo & Company set a $68.00 price objective on Alcoa in a research note on Thursday, March 12th. JPMorgan Chase & Co. upgraded Alcoa from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $50.00 to $68.00 in a research note on Friday, March 13th. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. UBS Group boosted their price objective on Alcoa from $48.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Finally, Zacks Research lowered Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.55.

Alcoa Price Performance

Shares of Alcoa stock opened at $74.59 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.40. Alcoa has a twelve month low of $22.48 and a twelve month high of $75.70. The business has a 50-day moving average price of $62.27 and a 200 day moving average price of $50.95. The firm has a market cap of $19.68 billion, a PE ratio of 16.84 and a beta of 1.70.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.31. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the business earned $1.04 EPS. Alcoa’s revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Basepoint Wealth LLC acquired a new position in shares of Alcoa during the 4th quarter worth approximately $25,000. Advisory Services Network LLC acquired a new position in Alcoa in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. lifted its holdings in Alcoa by 52,500.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 525 shares during the last quarter. Root Financial Partners LLC acquired a new position in Alcoa in the third quarter valued at approximately $29,000. Finally, CoreCap Advisors LLC lifted its holdings in Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 237 shares during the last quarter.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.