Analysts Set Alcoa Corp (AA) PT at $46.64

Alcoa Corp (NYSE:AA) has been assigned an average rating of “Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $46.64.

AA has been the subject of several analyst reports. Berenberg Bank set a $42.00 price target on shares of Alcoa and gave the company a “buy” rating in a report on Monday, January 14th. Zacks Investment Research lowered Alcoa from a “hold” rating to a “strong sell” rating in a research note on Monday, January 21st. Goldman Sachs Group upgraded Alcoa from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Monday, January 14th. ValuEngine lowered Alcoa from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Finally, Credit Suisse Group lowered their target price on Alcoa from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, January 17th.

Large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Alcoa during the 4th quarter valued at about $210,497,000. Capital World Investors raised its position in Alcoa by 23.3% in the 3rd quarter. Capital World Investors now owns 23,593,647 shares of the industrial products company’s stock worth $953,183,000 after purchasing an additional 4,459,077 shares during the period. FMR LLC raised its position in Alcoa by 191.0% in the 3rd quarter. FMR LLC now owns 2,137,654 shares of the industrial products company’s stock worth $86,360,000 after purchasing an additional 1,403,132 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in Alcoa in the 4th quarter worth about $24,002,000. Finally, Prudential Financial Inc. raised its position in Alcoa by 282.5% in the 4th quarter. Prudential Financial Inc. now owns 1,076,685 shares of the industrial products company’s stock worth $28,619,000 after purchasing an additional 795,194 shares during the period.

Shares of AA traded down $0.02 during midday trading on Thursday, hitting $27.72. 224,112 shares of the stock traded hands, compared to its average volume of 3,156,704. Alcoa has a 1-year low of $25.01 and a 1-year high of $62.35. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 4.58 and a beta of 1.13. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.85 and a current ratio of 1.42.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, January 16th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.16. Alcoa had a net margin of 1.69% and a return on equity of 9.21%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts predict that Alcoa will post 1.53 EPS for the current year.

Alcoa Company Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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Analyst Recommendations for Alcoa (NYSE:AA)

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