BMO Capital Markets Raises Alcoa (NYSE:AA) Price Target to $45.00

Alcoa (NYSE:AA) had its price objective hoisted by investment analysts at BMO Capital Markets from $42.00 to $45.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the industrial products company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 8.28% from the company’s previous close.

Several other analysts also recently issued reports on AA. Morgan Stanley decreased their price target on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. StockNews.com downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. B. Riley Financial restated a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price target on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, UBS Group increased their price objective on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.36.

Alcoa Trading Down 1.2 %

AA stock traded down $0.51 during midday trading on Thursday, hitting $41.56. The stock had a trading volume of 3,529,423 shares, compared to its average volume of 5,955,652. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a market cap of $7.46 billion, a P/E ratio of -11.15 and a beta of 2.42. The business has a fifty day moving average price of $34.55 and a two-hundred day moving average price of $36.71. Alcoa has a 1-year low of $23.07 and a 1-year high of $45.48.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.14) EPS. On average, sell-side analysts predict that Alcoa will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alcoa

Large investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. bought a new stake in Alcoa during the 2nd quarter worth approximately $27,000. UMB Bank n.a. grew its position in shares of Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 631 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Alcoa by 1,501.9% in the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 1,592 shares during the period. Fifth Third Bancorp raised its position in shares of Alcoa by 15.1% in the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after buying an additional 309 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Alcoa during the first quarter valued at $101,000. 82.39% of the stock is owned by institutional investors.

Alcoa Company Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.