Morgan Stanley Maintains Alcoa Inc to Overweight with Price Target $12.00

Brokerage firm Morgan Stanley Maintains its rating on Alcoa Inc(NYSE:AA). In a research note issued to the investors, the brokerage major Raises the price-target to $12.00 per share. The shares have been rated Overweight. The rating by Morgan Stanley was issued on Jun 30, 2016.

In a different note, On May 23, 2016, Bank of America said it Upgrades its rating on Alcoa Inc. The shares have been rated ‘Buy’ by the firm. Rosenblatt said it Initiates Coverage on Alcoa Inc, according to a research note issued on Apr 26, 2016. The shares have been rated ‘Buy’ by the firm. On Apr 6, 2016, Macquarie said it Maintains its rating on Alcoa Inc. In the research note, the firm Raises the price-target to $11.00 per share. The shares have been rated ‘Outperform’ by the firm.

Alcoa Inc (AA) shares turned negative on Tuesdays trading session with the shares closing down -0.29 points or -3.04% at a volume of 1,63,62,109. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.49. The peak price level was also seen at $9.49 while the days lowest was $9.17. Finally the shares closed at $9.26. The 52-week high of the shares is $11.5 while the 52-week low is $6.14. According to the latest information available, the market cap of the company is $12,178 M.

Alcoa Inc(AA) last announced its earnings results on Jan 11, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $5.25B. Analysts had an estimated revenue of $5.34B. Earnings per share were $0.04. Analysts had estimated an EPS of $0.04.

Several Insider Transactions has been reported to the SEC. On Apr 28, 2016, Ulrich Schmidt (director) purchased 5,000 shares at $10.25 per share price.Also, 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.

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