Alcoa Inc (AA) is Upgraded by BofA/Merrill to Buy

Alcoa Inc (AA) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on May 23, 2016.

Many Wall Street Analysts have commented on Alcoa Inc. Goldman Initiated Alcoa Inc on May 19, 2016 to “Neutral”, Price Target of the shares are set at $9.Rosenblatt Initiated Alcoa Inc on Apr 26, 2016 to “Buy”, Price Target of the shares are set at $15.Shares were Reiterated by Stifel on Apr 12, 2016 to “Buy” and Lowered the Price Target to $ 13 from a previous price target of $14 .

On the company’s financial health, Alcoa Inc reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 11, 2016. Analyst had a consensus of $0.03. The company had revenue of $4947.00 million for the quarter, compared to analysts expectations of $5153.58 million. The company’s revenue was down -15.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

Alcoa Inc closed down -0.01 points or -0.11% at $9.11 with 1,88,80,936 shares getting traded on Friday. Post opening the session at $9.23, the shares hit an intraday low of $9.02 and an intraday high of $9.2789 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Apr 28, 2016, Ulrich Schmidt (director) purchased 5,000 shares at $10.25 per share price. According to the SEC, on Apr 26, 2016, Olivier M Jarrault (Executive Vice President) sold 12,810 shares at $10.23 per share price. On Apr 20, 2016, Martin Sorrell (director) purchased 2,100 shares at $10.35 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.

Alcoa Inc

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