BMO Capital Markets Analyst Reaffirmed $6.00 Price Target on Alcoa Inc (NYSE:AA) stock, While Reiterating Outperform Rating

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BMO Capital Markets Analyst Rating Change Alcoa Inc. NYSE:AA

Alcoa Inc (NYSE:AA) Rating Maintained

They currently have a $6.00 price target on Alcoa Inc (NYSE:AA). BMO Capital Markets’s target would suggest a potential downside of -86.57 % from the company’s last stock close. This was revealed to clients and investors in analysts report on Wednesday, 13 September.

NYSE:AA is at the moment trading -0.20% lower at $44.91 as of 8:02 AM New York time. Alcoa Inc.’s stock is 0% over the last 200 days. It has underperformed the Standard & Poor’s 500 index, which has increased 6.00% over the same time period.

According to data compiled by Thomson Reuters, Alcoa Inc (NYSE:AA)’s stock is covered by 14 equity analysts across the Street, with 1 analysts giving it a Sell rating, 9 a Buy rating, while 8 consider it a Hold. The 12-month consensus target price for the stock is $10.89, which reflects an downside potential of 75.75% over the current price.

Institutional Ownership

Oak Hill Capital Management Llc had the most significant stake with ownership of 26.09M shares as of q2 2015 for 67.26% of the portfolio. D.C. Capital Advisors Ltd is another very bullish active investment manager who is having 1.00M shares of Alcoa Inc. or 6.18% of their portfolio. Further, Fairpointe Capital Llc have 3.32% of their portfolio invested in the company for 14.53M shares. The New York-based fund Tiaa Cref Investment Management Llc revealed it had bought a stake worth about 3.2% of the active investment manager’s stock portfolio in Alcoa Inc.. The Connecticut-based fund Sasco Capital Inc Ct is also positive about the stock, possessing 5.10M shares or 2.87% of their portfolio.

Alcoa Inc (NYSE:AA) Profile

Alcoa IncAlcoa 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. The Company’s segments include Bauxite, Alumina, Aluminum, Cast Products, Energy and Rolled Products.

Alcoa Inc (NYSE:AA) traded down -0.20% on 13 September, hitting $44.91. A total of 3.37 million shares of the company’s stock traded hands. This is down from average of 3.76 million shares. Alcoa Inc. has a 52 week low of $20.00 and a 52 week high of $45.22. The company has a market cap of $8.28 billion and a P/E ratio of 54.28.

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