Bank of America Upgrades Alcoa Inc to Buy

Brokerage firm Bank of America Upgrades its rating on Alcoa Inc(AA). The shares have been rated Buy. The rating by Bank of America was issued on Feb 3, 2017.

In a different note, On Feb 2, 2017, JP Morgan said it Upgrades its rating on Alcoa Inc. The shares have been rated ‘Overweight’ by the firm. On Jan 25, 2017, Deutsche Bank said it Upgrades its rating on Alcoa Inc. The shares have been rated ‘Hold’ by the firm. On Jan 25, 2017, Citigroup said it Upgrades its rating on Alcoa Inc. The shares have been rated ‘Buy’ by the firm. On Dec 20, 2016, Macquarie said it Upgrades its rating on Alcoa Inc. According to the research note, Macquarie Raises the price target to $39 per share from a prior target of $30. The shares have been rated ‘Outperform’ by the firm.

Alcoa Inc (AA) made into the market gainers list on Tuesdays trading session with the shares advancing 0.58% or 0.22 points. Due to strong positive momentum, the stock ended at $37.97, which is also near the day’s high of $38.25. The stock began the session at $38.04 and the volume stood at 32,69,994 shares. The 52-week high of the shares is $38.94 and the 52 week low is $20. The company has a current market capitalization of $6,946 M and it has 18,29,31,000 shares in outstanding.

Alcoa Inc(AA) last announced its earnings results on Jan 24, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $2.537B. Analysts had an estimated revenue of $2.500B. Earnings per share were $0.14. Analysts had estimated an EPS of $0.23.

Several Insider Transactions has been reported to the SEC. On Nov 16, 2016, Robert Sean Collins (Exec VP and Controller) sold 40,447 shares at $29.55 per share price.Also, On Oct 14, 2016, Martin Sorrell (director) purchased 820 shares at $26.75 per share price.On Oct 14, 2016, Ratan Tata (director) purchased 845 shares at $26.75 per share price, according to the Form-4 filing with the securities and exchange commission.

Alcoa Inc. (Alcoa) is engaged in lightweight metals engineering and manufacturing. The Company operates in four segments: Alumina Primary Metals Global Rolled Products and Engineered Products and Solutions. Its products which include aluminum titanium and nickel are used in aircraft automobiles commercial transportation packaging building and construction oil and gas defense consumer electronics and industrial applications across the world. It also produces and manages primary aluminum fabricated aluminum and alumina combined through its active participation in the aspects of the industry including technology mining refining smelting fabricating and recycling. The Company has investments and operating activities in Australia Brazil China Guinea Iceland Russia and Saudi Arabia among others. It produces three dimensional (3D-printed) titanium specialty metals and plastic parts for aerospace medical and energy applications.

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