Alcoa’s (AA) Buy Rating Reaffirmed at Deutsche Bank

Deutsche Bank reaffirmed their buy rating on shares of Alcoa (NYSE:AA) in a research report sent to investors on Wednesday morning, TipRanks reports.

Several other equities analysts have also recently issued reports on AA. TheStreet cut shares of Alcoa from a c- rating to a d+ rating in a research note on Thursday, March 28th. ValuEngine cut shares of Alcoa from a sell rating to a strong sell rating in a research note on Thursday, March 7th. Bank of America cut shares of Alcoa from a buy rating to a neutral rating and lowered their target price for the company from $45.00 to $31.00 in a research note on Wednesday, April 3rd. Zacks Investment Research cut shares of Alcoa from a hold rating to a sell rating in a research note on Tuesday. Finally, BMO Capital Markets lowered their target price on shares of Alcoa from $45.00 to $40.00 in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Alcoa has an average rating of Buy and a consensus price target of $40.75.

Shares of NYSE:AA traded up $0.11 during midday trading on Wednesday, reaching $22.51. The company’s stock had a trading volume of 2,419,787 shares, compared to its average volume of 3,285,689. Alcoa has a 12-month low of $20.82 and a 12-month high of $48.87. The company has a market capitalization of $4.26 billion, a PE ratio of 6.29, a P/E/G ratio of 5.56 and a beta of 1.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.47 and a quick ratio of 0.83.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.06). Alcoa had a negative net margin of 0.94% and a positive return on equity of 6.75%. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period last year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. Equities analysts anticipate that Alcoa will post 1.01 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Alcoa by 136.4% in the 1st quarter. FMR LLC now owns 1,048,586 shares of the industrial products company’s stock worth $29,528,000 after purchasing an additional 605,094 shares during the period. Adirondack Research & Management Inc. lifted its stake in shares of Alcoa by 23.1% in the 1st quarter. Adirondack Research & Management Inc. now owns 110,920 shares of the industrial products company’s stock worth $3,124,000 after purchasing an additional 20,792 shares during the period. Spectrum Financial Alliance Ltd LLC lifted its stake in shares of Alcoa by 1.7% in the 1st quarter. Spectrum Financial Alliance Ltd LLC now owns 189,164 shares of the industrial products company’s stock worth $5,302,000 after purchasing an additional 3,080 shares during the period. Trexquant Investment LP lifted its stake in shares of Alcoa by 17.2% in the 1st quarter. Trexquant Investment LP now owns 117,968 shares of the industrial products company’s stock worth $3,322,000 after purchasing an additional 17,318 shares during the period. Finally, Kennedy Capital Management Inc. lifted its stake in shares of Alcoa by 200.6% in the 1st quarter. Kennedy Capital Management Inc. now owns 149,991 shares of the industrial products company’s stock worth $4,224,000 after purchasing an additional 100,092 shares during the period.

About Alcoa

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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Analyst Recommendations for Alcoa (NYSE:AA)

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