Alcoa (NYSE:AA) received a $45.00 price objective from investment analysts at BMO Capital Markets in a report issued on Thursday. The firm presently has a “buy” rating on the industrial products company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 70.52% from the company’s current price.
Several other equities research analysts also recently issued reports on the stock. B. Riley restated a “buy” rating and set a $49.00 price objective (down from $50.00) on shares of Alcoa in a research report on Thursday. ValuEngine raised Alcoa from a “strong sell” rating to a “sell” rating in a report on Thursday. Credit Suisse Group dropped their price target on Alcoa from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, December 7th. Citigroup dropped their price target on Alcoa from $53.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 16th. Finally, JPMorgan Chase & Co. lifted their price target on Alcoa to $79.00 and gave the stock an “overweight” rating in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” $57.47.
Get Alcoa alerts: NYSE AA opened at $26.39 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.40 and a debt-to-equity ratio of 0.25. The stock has a market cap of $5.15 billion, a PE ratio of 8.77, a P/E/G ratio of 1.96 and a beta of 0.69. Alcoa has a 52-week low of $26.19 and a 52-week high of $62.35.
Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $0.63 topping the Thomson Reuters’ consensus estimate of $0.36 by $0.27. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a negative net margin of 0.09% and a positive return on equity of 10.38%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. As a group, equities research analysts expect that Alcoa will post 3.5 earnings per share for the current year.
Alcoa announced that its board has authorized a share repurchase plan on Wednesday, October 17th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the industrial products company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Hedge funds and other institutional company. Toronto Dominion Bank raised its position in shares of Alcoa by 445.5% in the third quarter. Toronto Dominion Bank now owns 11,500 shares of the industrial products company’s stock valued at $465,000 after buying an additional 9,392 shares in the last quarter. CIBC World Markets Inc. raised its holdings in Alcoa by 258.6% in the 2nd quarter. CIBC World Markets Inc. now owns 33,257 shares of the industrial products company’s stock valued at $1,559,000 after acquiring an additional 23,983 shares in the last quarter. Northern Trust Corp raised its holdings in Alcoa by 12.1% in the 2nd quarter. Northern Trust Corp now owns 1,600,561 shares of the industrial products company’s stock valued at $75,034,000 after acquiring an additional 173,323 shares in the last quarter. Swiss National Bank raised its holdings in Alcoa by 0.9% in the 2nd quarter. Swiss National Bank now owns 324,094 shares of the industrial products company’s stock valued at $15,194,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Exane Derivatives raised its holdings in Alcoa by 53.6% in the 3rd quarter. Exane Derivatives now owns 8,802 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 3,073 shares in the last quarter.
Alcoa Company Profile
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.
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