Alcoa (NYSE:AA) Given New $43.00 Price Target at BMO Capital Markets

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

Several other brokerages have also recently issued reports on AA. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Wednesday, October 23rd. Morgan Stanley increased their price target on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Jefferies Financial Group reduced their price objective on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. UBS Group boosted their target price on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised their price target on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $46.36.

Alcoa Stock Performance

Shares of AA traded up $0.53 during mid-day trading 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 firm has a market capitalization of $10.19 billion, a P/E ratio of -22.44, a P/E/G ratio of 0.16 and a beta of 2.47. Alcoa has a fifty-two week low of $24.86 and a fifty-two week high of $47.77. The business’s 50 day moving average is $40.81 and its two-hundred day moving average is $37.79. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.34. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the business posted ($1.14) EPS. The company’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts expect that Alcoa will post 0.93 earnings per share for the current year.

Insider Activity

In related news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the transaction, the executive vice president now directly owns 57,317 shares in the company, valued at $2,423,935.93. The trade was a 29.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On Alcoa

Hedge funds have recently bought and sold shares of the stock. Ballentine Partners LLC boosted its stake in shares of Alcoa by 3.2% during the fourth 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 during the last quarter. UMB Bank n.a. raised its stake in Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 598 shares during the last quarter. HB Wealth Management LLC purchased a new position in Alcoa in the 4th quarter valued at about $211,000. Sendero Wealth Management LLC boosted its stake in shares of Alcoa by 7.5% during the 4th quarter. Sendero Wealth Management LLC now owns 18,871 shares of the industrial products company’s stock worth $713,000 after purchasing an additional 1,320 shares during the last quarter. Finally, Wedmont Private Capital purchased a new stake in shares of Alcoa during the fourth quarter worth about $203,000.

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.