Alcoa (AA) Price Target Raised to $67.00

Alcoa (NYSE:AA) had its price objective boosted by Cowen from $51.00 to $67.00 in a research note released on Thursday morning, MarketBeat Ratings reports. Cowen currently has a market perform rating on the industrial products company’s stock.

Other analysts also recently issued reports about the stock. Citigroup decreased their price objective on shares of Alcoa from $65.00 to $57.00 and set a buy rating on the stock in a research report on Monday, April 9th. Bank of America restated a buy rating and set a $63.00 price objective (down from $67.00) on shares of Alcoa in a research report on Thursday, January 18th. BMO Capital Markets restated a buy rating and set a $65.00 price objective on shares of Alcoa in a research report on Friday, December 22nd. ValuEngine downgraded shares of Alcoa from a strong-buy rating to a buy rating in a research report on Wednesday, March 7th. Finally, Zacks Investment Research downgraded shares of Alcoa from a strong-buy rating to a hold rating in a research report on Tuesday, January 30th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $61.40.

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AA opened at $60.01 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.30. Alcoa has a 1-year low of $29.55 and a 1-year high of $62.35. The company has a market capitalization of $11,172.42, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.85 and a beta of 0.27.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, April 18th. The industrial products company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.17. Alcoa had a net margin of 1.17% and a return on equity of 7.67%. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the firm earned $0.63 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. equities analysts anticipate that Alcoa will post 3.37 EPS for the current year.

In related news, COO Tomas Mar Sigurdsson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $51.37, for a total transaction of $513,700.00. Following the completion of the transaction, the chief operating officer now directly owns 46,832 shares of the company’s stock, valued at $2,405,759.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of institutional investors and hedge funds have recently bought and sold shares of AA. AMP Capital Investors Ltd purchased a new position in Alcoa during the third quarter valued at $591,000. Janus Henderson Group PLC grew its stake in Alcoa by 0.8% during the third quarter. Janus Henderson Group PLC now owns 311,820 shares of the industrial products company’s stock valued at $14,537,000 after acquiring an additional 2,521 shares in the last quarter. Neuberger Berman Group LLC purchased a new position in Alcoa during the third quarter valued at $10,295,000. Public Employees Retirement System of Ohio grew its stake in shares of Alcoa by 6.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 80,047 shares of the industrial products company’s stock worth $3,732,000 after buying an additional 5,137 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Alcoa by 48.0% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 613,306 shares of the industrial products company’s stock worth $28,592,000 after buying an additional 198,895 shares in the last quarter.

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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.

Analyst Recommendations for Alcoa (NYSE:AA)

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