BMO Capital Markets Increases Alcoa (NYSE:AA) Price Target to $37.00

Alcoa (NYSE:AA) had its price target increased by research analysts at BMO Capital Markets from $35.00 to $37.00 in a research report issued on Thursday, Marketbeat reports. The brokerage currently has a “market perform” rating on the industrial products company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 4.14% from the company’s current price.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. UBS Group started coverage on shares of Alcoa in a research note on Tuesday, January 16th. They issued a “sell” rating and a $29.00 price target on the stock. Bank of America raised their target price on shares of Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Morgan Stanley raised their target price on shares of Alcoa from $27.00 to $29.50 and gave the stock an “underweight” rating in a research report on Thursday, January 18th. Finally, StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.96.

Alcoa Stock Performance

Shares of Alcoa stock opened at $35.53 on Thursday. The firm has a market capitalization of $6.38 billion, a P/E ratio of -9.45, a P/E/G ratio of 2.28 and a beta of 2.47. Alcoa has a 52 week low of $23.07 and a 52 week high of $42.23. The company has a quick ratio of 0.74, a current ratio of 1.45 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $31.14 and its two-hundred day moving average is $29.06.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.30%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) earnings per share. Research analysts forecast that Alcoa will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the sale, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Investors Weigh In On Alcoa

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Moors & Cabot Inc. lifted its holdings in Alcoa by 2.2% in the first quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company’s stock valued at $788,000 after acquiring an additional 185 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Alcoa by 0.6% in the second quarter. Thrivent Financial for Lutherans now owns 48,391 shares of the industrial products company’s stock valued at $2,206,000 after acquiring an additional 284 shares during the period. State of Wisconsin Investment Board lifted its holdings in Alcoa by 0.4% in the fourth quarter. State of Wisconsin Investment Board now owns 90,102 shares of the industrial products company’s stock valued at $4,097,000 after acquiring an additional 317 shares during the period. Fairfield Bush & CO. acquired a new stake in Alcoa in the first quarter valued at $29,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Alcoa by 1.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company’s stock valued at $900,000 after acquiring an additional 338 shares during the period.

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.