Alcoa (NYSE:AA) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $60.00 price objective on shares of Alcoa in a research report on Thursday, October 19th. Berenberg Bank set a $44.00 price objective on shares of Alcoa and gave the company a “hold” rating in a research report on Wednesday, October 18th. Cowen reaffirmed a “market perform” rating and set a $59.00 price objective (up previously from $51.00) on shares of Alcoa in a research report on Thursday, January 18th. Bank of America reaffirmed a “buy” rating and set a $63.00 price objective (down previously from $67.00) on shares of Alcoa in a research report on Thursday, January 18th. Finally, Zacks Investment Research lowered shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alcoa currently has an average rating of “Buy” and a consensus target price of $57.72.

Alcoa (AA) traded down $0.63 during mid-day trading on Friday, reaching $48.46. 3,862,405 shares of the company’s stock were exchanged, compared to its average volume of 4,829,521. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 0.90. Alcoa has a one year low of $29.55 and a one year high of $57.50. The company has a market capitalization of $9,200.00 and a PE ratio of 41.78.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 17th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.19). Alcoa had a net margin of 1.86% and a return on equity of 6.90%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter last year, the company earned $0.14 earnings per share. The firm’s revenue was up 25.1% on a year-over-year basis. equities analysts forecast that Alcoa will post 3.64 earnings per share for the current fiscal year.

In related news, VP William F. Oplinger sold 229,475 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $52.86, for a total value of $12,130,048.50. Following the completion of the transaction, the vice president now owns 108,915 shares of the company’s stock, valued at $5,757,246.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Tomas Mar Sigurdsson sold 10,000 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $51.37, for a total transaction of $513,700.00. Following the completion of the transaction, the chief operating officer now directly owns 46,832 shares of the company’s stock, valued at approximately $2,405,759.84. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently bought and sold shares of AA. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Alcoa during the fourth quarter worth approximately $103,000. Huntington National Bank acquired a new stake in shares of Alcoa during the third quarter worth approximately $112,000. Cerebellum GP LLC acquired a new stake in shares of Alcoa during the fourth quarter worth approximately $127,000. Fruth Investment Management acquired a new stake in shares of Alcoa during the fourth quarter worth approximately $200,000. Finally, HL Financial Services LLC acquired a new stake in shares of Alcoa during the fourth quarter worth approximately $200,000.

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Alcoa Company Profile

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Alcoa (NYSE:AA)

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