Alcoa (NYSE:AA) PT Lowered to $95.00 at BMO Capital Markets

Alcoa (NYSE:AAGet Rating) had its price objective reduced by equities research analysts at BMO Capital Markets from $99.00 to $95.00 in a research report issued on Thursday, The Fly reports. BMO Capital Markets’ target price suggests a potential upside of 9.28% from the company’s previous close.

AA has been the subject of several other reports. Zacks Investment Research upgraded Alcoa from a “hold” rating to a “strong-buy” rating and set a $85.00 target price for the company in a research report on Wednesday, February 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Alcoa from $65.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, March 10th. JPMorgan Chase & Co. boosted their target price on Alcoa from $67.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, March 7th. The Goldman Sachs Group boosted their target price on Alcoa from $88.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, March 25th. Finally, Jefferies Financial Group boosted their target price on Alcoa from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, March 9th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alcoa has a consensus rating of “Buy” and an average target price of $93.58.

Shares of NYSE:AA opened at $86.93 on Thursday. The stock has a market capitalization of $16.03 billion, a P/E ratio of 39.33 and a beta of 2.30. Alcoa has a 1-year low of $31.00 and a 1-year high of $98.09. The company has a current ratio of 1.56, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $83.34 and a two-hundred day moving average price of $64.03.

Alcoa (NYSE:AAGet Rating) last announced its quarterly earnings data on Wednesday, April 20th. The industrial products company reported $3.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.14. The firm had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Alcoa had a return on equity of 23.54% and a net margin of 3.53%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 EPS. As a group, equities analysts predict that Alcoa will post 14.16 EPS 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 stock was sold at an average price of $64.53, for a total transaction of $806,625.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John D. Slaven sold 28,326 shares of the company’s stock in a transaction that occurred on Thursday, February 24th. The stock was sold at an average price of $75.33, for a total value of $2,133,797.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 326,109 shares of company stock valued at $20,224,090.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp raised its stake in Alcoa by 43.8% in the 4th quarter. State Street Corp now owns 6,383,551 shares of the industrial products company’s stock valued at $380,332,000 after acquiring an additional 1,943,329 shares during the period. Bank of New York Mellon Corp grew its stake in shares of 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 acquiring an additional 4,540,973 shares in the last quarter. Theleme Partners LLP bought a new position in Alcoa during the third quarter worth about $240,198,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Alcoa by 1,748.8% in the 4th 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 purchasing an additional 4,197,142 shares during the period. Finally, Soroban Capital Partners LP acquired a new position in shares of Alcoa during the 4th quarter worth approximately $226,347,000.

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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