Alcoa Corp. (AA) Given a $45.00 Price Target by BMO Capital Markets Analysts

BMO Capital Markets set a $45.00 price objective on Alcoa Corp. (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.) in a research report released on Saturday morning. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other brokerages also recently commented on AA. Deutsche Bank AG reiterated a hold rating and set a $44.00 target price (up from $37.00) on shares of Alcoa Corp. in a report on Sunday, June 25th. Zacks Investment Research upgraded Alcoa Corp. from a hold rating to a buy rating and set a $38.00 target price on the stock in a report on Tuesday, April 11th. Morgan Stanley restated an overweight rating on shares of Alcoa Corp. in a report on Friday, July 21st. Citigroup Inc. restated a buy rating and set a $45.00 price objective on shares of Alcoa Corp. in a report on Friday, May 19th. Finally, Cowen and Company lifted their price objective on Alcoa Corp. from $29.00 to $35.00 and gave the stock an outperform rating in a report on Wednesday, April 19th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Alcoa Corp. currently has a consensus rating of Buy and an average price target of $38.83.

Shares of Alcoa Corp. (NYSE:AA) traded up 0.89% during trading on Friday, reaching $37.42. The company had a trading volume of 2,287,600 shares. The firm has a 50-day moving average price of $33.95 and a 200-day moving average price of $34.19. Alcoa Corp. has a 52-week low of $20.00 and a 52-week high of $39.78. The company has a market capitalization of $6.89 billion and a P/E ratio of 42.23.

Alcoa Corp. (NYSE:AA) last announced its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. Alcoa Corp. had a return on equity of 3.28% and a net margin of 1.63%. The company’s revenue was up 23.1% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. On average, analysts predict that Alcoa Corp. will post $2.80 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC acquired a new stake in shares of Alcoa Corp. during the first quarter valued at $133,000. Pacer Advisors Inc. increased its stake in shares of Alcoa Corp. by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after buying an additional 132 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of Alcoa Corp. by 2.4% in the second quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock valued at $146,000 after buying an additional 104 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Alcoa Corp. by 220.6% in the second quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock valued at $189,000 after buying an additional 3,993 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Alcoa Corp. by 42.3% in the first quarter. Van ECK Associates Corp now owns 5,566 shares of the industrial products company’s stock valued at $191,000 after buying an additional 1,654 shares during the last quarter.