BMO Capital Markets Reaffirms “Buy” Rating for Alcoa (AA)

Alcoa (NYSE:AA)‘s stock had its “buy” rating restated by analysts at BMO Capital Markets in a research note issued on Friday. They presently have a $65.00 target price on the industrial products company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 31.71% from the company’s previous close.

Several other research firms also recently issued reports on AA. Morgan Stanley set a $55.00 price objective on Alcoa and gave the company a “buy” rating in a research note on Tuesday. Citigroup reissued a “buy” rating and set a $53.00 target price on shares of Alcoa in a research report on Friday, September 29th. Cowen set a $51.00 target price on shares of Alcoa and gave the company a “hold” rating in a research report on Wednesday, October 11th. Macquarie reissued a “buy” rating and set a $62.00 target price (up previously from $55.00) on shares of Alcoa in a research report on Tuesday, October 10th. Finally, Credit Suisse Group raised shares of Alcoa from a “neutral” rating to an “outperform” rating and increased their target price for the company from $42.00 to $61.00 in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Alcoa has a consensus rating of “Buy” and a consensus target price of $53.07.

Alcoa (AA) traded up $0.36 on Friday, reaching $49.35. 465,107 shares of the company traded hands, compared to its average volume of 4,141,751. Alcoa has a 1-year low of $28.01 and a 1-year high of $50.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 0.90. The company has a market capitalization of $9,114.23 and a PE ratio of 23.35.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, October 18th. The industrial products company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.05). The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. Alcoa had a return on equity of 4.90% and a net margin of 2.61%. The firm’s revenue was up 27.3% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS. sell-side analysts anticipate that Alcoa will post 3.19 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of AA. Huntington National Bank bought a new position in Alcoa during the 3rd quarter valued at $112,000. Pacer Advisors Inc. lifted its stake in Alcoa by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 4,488 shares of the industrial products company’s stock valued at $147,000 after acquiring an additional 348 shares in the last quarter. Van ECK Associates Corp lifted its stake in Alcoa by 3.8% during the 2nd quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock valued at $189,000 after acquiring an additional 213 shares in the last quarter. Lincoln National Corp raised its stake in shares of Alcoa by 3.9% during the 2nd quarter. Lincoln National Corp now owns 6,154 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 233 shares during the period. Finally, Sigma Planning Corp bought a new stake in shares of Alcoa during the 3rd quarter worth $206,000.

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About Alcoa

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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