BMO Capital Markets Issues Positive Forecast for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its price objective raised by BMO Capital Markets to $43.00 in a research report report published on Friday,Stock Target Advisor reports. The brokerage currently has a hold rating on the industrial products company’s stock.

A number of other research firms have also recently issued reports on AA. JPMorgan Chase & Co. lifted their price target on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America upped their target price on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 28th. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group lowered their target price on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Alcoa presently has an average rating of “Moderate Buy” and an average target price of $46.36.

Alcoa Stock Performance

Alcoa stock opened at $39.57 on Friday. Alcoa has a 52-week low of $24.86 and a 52-week high of $47.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. The stock has a fifty day moving average price of $40.70 and a two-hundred day moving average price of $37.79. The firm has a market capitalization of $10.22 billion, a P/E ratio of -22.49, a P/E/G ratio of 0.16 and a beta of 2.47.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.14) earnings per share. As a group, analysts anticipate that Alcoa will post 0.93 EPS for the current fiscal year.

Insider Activity at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the sale, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Alcoa

Several institutional investors have recently modified their holdings of AA. Ballentine Partners LLC lifted its position in Alcoa by 3.2% in the 4th quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 279 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Alcoa by 3.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock valued at $365,000 after purchasing an additional 339 shares during the period. Blue Trust Inc. lifted its holdings in shares of Alcoa by 12.0% in the third quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company’s stock valued at $128,000 after purchasing an additional 344 shares in the last quarter. CreativeOne Wealth LLC boosted its position in shares of Alcoa by 4.1% during the third quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company’s stock worth $352,000 after buying an additional 360 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of Alcoa by 1.4% during the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock worth $1,073,000 after buying an additional 368 shares during the period.

Alcoa Company Profile

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 two segments, 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.