Alcoa (NYSE:AA) has been assigned a $55.00 price objective by Morgan Stanley in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the industrial products company’s stock. Morgan Stanley’s price objective suggests a potential upside of 23.40% from the company’s current price.
Several other research firms have also commented on AA. Gabelli lowered Alcoa from a “buy” rating to a “hold” rating and raised their price objective for the company from $57.00 to $60.00 in a research report on Wednesday, October 4th. J P Morgan Chase & Co reissued a “buy” rating and issued a $60.00 price objective on shares of Alcoa in a research report on Thursday, October 19th. Berenberg Bank set a $44.00 target price on Alcoa and gave the company a “hold” rating in a research note on Wednesday, October 18th. Macquarie restated a “buy” rating and set a $62.00 target price (up from $55.00) on shares of Alcoa in a research note on Tuesday, October 10th. Finally, Cowen set a $51.00 target price on Alcoa and gave the company a “hold” rating in a research note on Wednesday, October 11th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Alcoa has a consensus rating of “Buy” and a consensus price target of $51.47.
Alcoa (NYSE:AA) traded up $1.96 during trading hours on Tuesday, reaching $44.57. The company’s stock had a trading volume of 3,175,100 shares, compared to its average volume of 4,126,271. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.17. Alcoa has a one year low of $28.01 and a one year high of $50.31. The stock has a market capitalization of $7,883.83 and a price-to-earnings ratio of 20.19.
A number of large investors have recently bought and sold shares of AA. Orbis Allan Gray Ltd acquired a new position in Alcoa in the first quarter worth about $374,584,000. Norges Bank acquired a new position in Alcoa in the fourth quarter valued at approximately $271,250,000. First Pacific Advisors LLC boosted its stake in Alcoa by 13.5% in the second quarter. First Pacific Advisors LLC now owns 64,456,242 shares of the industrial products company’s stock valued at $597,509,000 after acquiring an additional 7,650,380 shares during the period. Slate Path Capital LP acquired a new position in Alcoa in the second quarter valued at approximately $65,261,000. Finally, BlackRock Inc. boosted its stake in Alcoa by 4,113.0% in the first quarter. BlackRock Inc. now owns 6,820,599 shares of the industrial products company’s stock valued at $234,632,000 after acquiring an additional 6,658,703 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.
