NEW YORK (TheStreet) -- Shares of Alcoa (AA) - Get Report were gaining 2.1% to $15.26 Tuesday after the aluminum producer announced that it completed its acquisition of TITAL.

TITAL is a manufacturer of titanium and aluminum structural castings for aircraft engines and airframes. Alcoa said the acquisition establishes its titanium casting capabilities in Europe, and expands its aluminum casting ability.

TITAL reported revenue of about 77 million euros (about $100 million) in 2014, more than half of which came from titanium products. Alcoa said that it expects TITAL's titanium revenues to increase by 70% in the next five years as manufacturers look to titanium structures for next-generation jet engines.

Exclusive Report:Jim Cramer's Best Stocks for 2015

"We are combining two leading, innovation-driven businesses to continue increasing Alcoa's highly differentiated content on the world's best-selling airplanes and jet engines," Executive Vice President and Alcoa Group President, Engineered Products and Solutions Olivier Jarrault said in a statement. "This transaction supports our strategy of creating a more profitable future by growing our value-add businesses. Through these efforts, Alcoa will continue delivering greater sustainable value for our customers, employees and shareholders."

TheStreet Ratings team rates ALCOA INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate ALCOA INC (AA) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company shows low profit margins."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The revenue growth came in higher than the industry average of 2.5%. Since the same quarter one year prior, revenues rose by 14.2%. Growth in the company's revenue appears to have helped boost the earnings per share.
• ALCOA INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. During the past fiscal year, ALCOA INC turned its bottom line around by earning $0.19 versus -$2.15 in the prior year. This year, the market expects an improvement in earnings ($1.16 versus $0.19).
• The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Metals & Mining industry. The net income increased by 106.8% when compared to the same quarter one year prior, rising from -$2,339.00 million to $159.00 million.
• Net operating cash flow has significantly increased by 58.47% to $1,458.00 million when compared to the same quarter last year. In addition, ALCOA INC has also vastly surpassed the industry average cash flow growth rate of -57.24%.
• Powered by its strong earnings growth of 105.02% and other important driving factors, this stock has surged by 25.39% over the past year, outperforming the rise in the S&P 500 Index during the same period. Looking ahead, the stock's sharp rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.

• You can view the full analysis from the report here: AA Ratings Report