Alcoa (AA) Price Target Increased to $65.00 by Analysts at Citigroup

Alcoa (NYSE:AA) had its price objective upped by Citigroup to $65.00 in a research note released on Thursday morning, The Fly reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on the company. Cowen set a $51.00 price objective on Alcoa and gave the stock a hold rating in a research report on Wednesday, October 11th. BMO Capital Markets reiterated a buy rating and issued a $65.00 price objective on shares of Alcoa in a research report on Friday, December 22nd. Macquarie reiterated a buy rating and issued a $62.00 price objective (up previously from $55.00) on shares of Alcoa in a research report on Tuesday, October 10th. Morgan Stanley set a $55.00 price objective on Alcoa and gave the stock a buy rating in a research report on Tuesday, December 19th. Finally, Berenberg Bank set a $44.00 price objective on Alcoa and gave the stock a hold rating in a research report on Wednesday, October 18th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Alcoa has a consensus rating of Buy and an average price target of $53.74.

Shares of Alcoa (AA) opened at $56.76 on Thursday. Alcoa has a 52 week low of $29.55 and a 52 week high of $57.50. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $10,501.91, a P/E ratio of 37.10 and a beta of -4.07.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.05). Alcoa had a return on equity of 4.90% and a net margin of 2.61%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the company earned $0.32 EPS. Alcoa’s revenue for the quarter was up 27.3% compared to the same quarter last year. research analysts forecast that Alcoa will post 3.19 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Elliott Management Corp increased its position in shares of Alcoa by 14.7% in the second quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock valued at $383,228,000 after buying an additional 1,500,000 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Alcoa by 13.4% in the second quarter. Parametric Portfolio Associates LLC now owns 418,466 shares of the industrial products company’s stock valued at $13,663,000 after buying an additional 49,441 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Alcoa by 1.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 220,201 shares of the industrial products company’s stock valued at $10,266,000 after buying an additional 2,790 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Alcoa by 14.5% in the second quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock valued at $484,895,000 after buying an additional 1,885,745 shares in the last quarter. Finally, Cipher Capital LP purchased a new position in shares of Alcoa in the third quarter valued at $646,000.

TRADEMARK VIOLATION WARNING: This piece was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://www.com-unik.info/2018/01/14/alcoa-aa-price-target-increased-to-65-00-by-analysts-at-citigroup.html.

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.

The Fly

Analyst Recommendations for Alcoa (NYSE:AA)

Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit