Alcoa (NYSE:AA) Price Target Raised to $43.00 at BMO Capital Markets

Alcoa (NYSE:AA) had its price objective raised by research analysts at BMO Capital Markets to $43.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 9.02% from the stock’s current price.

Several other equities analysts have also commented on the stock. UBS Group upped their price target on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley lifted their price objective on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and increased their target price for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Alcoa currently has a consensus rating of “Moderate Buy” and an average target price of $46.36.

Alcoa Trading Up 1.4 %

NYSE AA traded up $0.53 during trading hours on Friday, hitting $39.44. 422,170 shares of the company’s stock were exchanged, compared to its average volume of 4,021,527. The business’s 50 day moving average is $40.81 and its 200-day moving average is $37.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. Alcoa has a 12-month low of $24.86 and a 12-month high of $47.77. The firm has a market capitalization of $10.19 billion, a P/E ratio of -22.44, a price-to-earnings-growth ratio of 0.16 and a beta of 2.47.

Alcoa (NYSE:AA) last posted its quarterly earnings data 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. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the prior year, the company posted ($1.14) EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts anticipate that Alcoa will post 0.93 EPS for the current fiscal year.

Insider Activity

In related news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the transaction, the executive vice president now owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Alcoa

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new stake in shares of Alcoa during the second quarter worth approximately $27,000. UMB Bank n.a. grew its holdings in Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 631 shares in the last quarter. Quarry LP acquired a new position in Alcoa during the 3rd quarter worth $43,000. Continuum Advisory LLC increased its position in shares of Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 1,070 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Alcoa by 399.0% in the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 1,157 shares in the last quarter.

About Alcoa

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.