Alcoa (NYSE:AA)‘s stock had its “buy” rating restated by analysts at Bank of America in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They presently have a $63.00 target price on the industrial products company’s stock, down from their previous target price of $67.00. Bank of America’s price target suggests a potential upside of 18.64% from the stock’s previous close.

A number of other research analysts also recently issued reports on AA. Morgan Stanley reiterated an “overweight” rating and issued a $47.00 price target on shares of Alcoa in a research note on Wednesday, September 20th. Berenberg Bank downgraded shares of Alcoa from a “buy” rating to a “hold” rating and lifted their price target for the stock from $41.00 to $44.00 in a research note on Friday, September 22nd. Citigroup reiterated a “buy” rating and issued a $53.00 price target on shares of Alcoa in a research note on Friday, September 29th. Gabelli downgraded shares of Alcoa from a “buy” rating to a “hold” rating and lifted their price target for the stock from $57.00 to $60.00 in a research note on Wednesday, October 4th. Finally, Macquarie reissued a “buy” rating and set a $62.00 price objective (up previously from $55.00) on shares of Alcoa in a report on Tuesday, October 10th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Alcoa has a consensus rating of “Buy” and an average target price of $56.00.

Alcoa (NYSE:AA) opened at $53.10 on Thursday. Alcoa has a 12 month low of $29.55 and a 12 month high of $57.50. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.17. The stock has a market cap of $9,820.00 and a P/E ratio of 45.78.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, January 17th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.19). Alcoa had a return on equity of 6.90% and a net margin of 1.86%. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the prior year, the firm earned $0.14 EPS. The firm’s revenue was up 25.1% compared to the same quarter last year. equities research analysts forecast that Alcoa will post 4.11 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in AA. Comerica Bank raised its holdings in Alcoa by 14.1% during the second quarter. Comerica Bank now owns 20,122 shares of the industrial products company’s stock worth $738,000 after purchasing an additional 2,483 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Alcoa by 2.5% in the 2nd quarter. Principal Financial Group Inc. now owns 25,679 shares of the industrial products company’s stock valued at $838,000 after acquiring an additional 627 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Alcoa by 21.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,459 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 1,870 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Alcoa by 113.5% in the 2nd quarter. Alliancebernstein L.P. now owns 231,239 shares of the industrial products company’s stock valued at $7,550,000 after acquiring an additional 122,909 shares during the period. Finally, Teachers Advisors LLC increased its holdings in shares of Alcoa by 16.8% in the 2nd quarter. Teachers Advisors LLC now owns 518,598 shares of the industrial products company’s stock valued at $16,932,000 after acquiring an additional 74,542 shares during the period.

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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.

Analyst Recommendations for Alcoa (NYSE:AA)

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