Alcoa (NYSE:AA) PT Lowered to $95.00

Alcoa (NYSE:AA – Get Rating) had its target price decreased by equities research analysts at BMO Capital Markets from $99.00 to $95.00 in a note issued to investors on Thursday, The Fly reports. BMO Capital Markets’ price target would indicate a potential upside of 41.01% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Alcoa from $67.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, March 7th. Citigroup upped their target price on shares of Alcoa from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, March 17th. Wolfe Research reissued a “buy” rating and issued a $105.00 target price on shares of Alcoa in a research note on Friday, March 25th. Credit Suisse Group cut shares of Alcoa from an “outperform” rating to a “neutral” rating and upped their target price for the company from $68.00 to $82.00 in a research note on Friday, April 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Alcoa from $65.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, March 10th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $93.17.

Alcoa stock opened at $67.37 on Thursday. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 30.48 and a beta of 2.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.56 and a quick ratio of 0.95. Alcoa has a fifty-two week low of $31.00 and a fifty-two week high of $98.09. The firm has a fifty day moving average price of $83.32 and a two-hundred day moving average price of $64.08.

Alcoa (NYSE:AA – Get Rating) last announced its quarterly earnings data on Wednesday, April 20th. The industrial products company reported $3.06 EPS for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.14. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.46 billion. Alcoa had a net margin of 3.53% and a return on equity of 23.54%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. As a group, sell-side analysts expect that Alcoa will post 14.16 earnings per share for the current year.

In other news, VP Molly S. Beerman sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, February 4th. The shares were sold at an average price of $64.53, for a total transaction of $806,625.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Roy Christopher Harvey sold 238,147 shares of the company’s stock in a transaction that occurred on Wednesday, January 26th. The stock was sold at an average price of $60.62, for a total transaction of $14,436,471.14. The disclosure for this sale can be found here. Insiders have sold 326,109 shares of company stock worth $20,224,090 over the last ninety days.

Several hedge funds have recently made changes to their positions in AA. Theleme Partners LLP acquired a new position in shares of Alcoa during the third quarter worth approximately $240,198,000. Bank of New York Mellon Corp lifted its holdings in Alcoa by 703.9% in the third quarter. Bank of New York Mellon Corp now owns 5,186,065 shares of the industrial products company’s stock valued at $253,806,000 after buying an additional 4,540,973 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Alcoa by 1,748.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,437,142 shares of the industrial products company’s stock valued at $262,723,000 after buying an additional 4,197,142 shares during the period. Soroban Capital Partners LP acquired a new position in Alcoa in the fourth quarter valued at approximately $226,347,000. Finally, Norges Bank acquired a new position in Alcoa in the fourth quarter valued at approximately $153,481,000.

About Alcoa (Get Rating)

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 three segments: Bauxite, 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.

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