Alcoa (NYSE:AA – Get Rating) had its target price raised by B. Riley from $41.00 to $42.00 in a research note issued to investors on Thursday morning, MarketBeat reports. They currently have a neutral rating on the industrial products company's stock.
A number of other research analysts also recently issued reports on AA. TheStreet downgraded Alcoa from a b- rating to a c- rating in a research note on Wednesday, October 19th. The Goldman Sachs Group decreased their price objective on Alcoa from $75.00 to $51.00 and set a buy rating on the stock in a report on Thursday, October 13th. BMO Capital Markets decreased their price target on Alcoa from $55.00 to $50.00 and set a market perform rating on the stock in a report on Thursday. Morgan Stanley lowered Alcoa from an overweight rating to an equal weight rating and decreased their price target for the company from $60.00 to $56.00 in a report on Friday, December 9th. Finally, StockNews.com initiated coverage on Alcoa in a report on Wednesday, October 12th. They set a hold rating on the stock. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Alcoa has a consensus rating of Hold and an average price target of $68.00.
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Alcoa Stock Performance
Shares of AA stock opened at $51.00 on Thursday. The company's fifty day moving average price is $47.61 and its 200-day moving average price is $45.72. The company has a current ratio of 1.75, a quick ratio of 1.00 and a debt-to-equity ratio of 0.27. The stock has a market cap of $9.02 billion, a PE ratio of -60.00, a price-to-earnings-growth ratio of 1.67 and a beta of 2.41. Alcoa has a 12 month low of $33.55 and a 12 month high of $98.09.
Alcoa (NYSE:AA – Get Rating) last issued its earnings results on Wednesday, January 18th. The industrial products company reported ($0.70) earnings per share for the quarter, topping analysts' consensus estimates of ($0.75) by $0.05. Alcoa had a positive return on equity of 13.18% and a negative net
margin of 0.82%. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the firm earned $2.50 EPS. Alcoa's revenue was down 20.3% on a year-over-year basis. On average, equities analysts expect that Alcoa will post 2.45 EPS for the current fiscal year.
Institutional Trading of Alcoa
Hedge funds and other institutional investors have recently bought and sold shares of the business. Deutsche Bank AG increased its stake in shares of Alcoa by 39.9% during the second quarter. Deutsche Bank AG now owns 667,512 shares of the industrial products company's stock valued at $30,424,000 after buying an additional 190,523 shares during the period. Aviva PLC bought a new position in Alcoa during the 2nd quarter worth about $3,272,000. Securian Asset Management Inc. grew its holdings in Alcoa by 1.8% during the 2nd quarter. Securian Asset Management Inc. now owns 16,815 shares of the industrial products company's stock worth $766,000 after acquiring an additional 296 shares in the last quarter. Empowered Funds LLC bought a new position in Alcoa during the 2nd quarter worth about $3,662,000. Finally, Exchange Traded Concepts LLC grew its holdings in Alcoa by 48.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,267 shares of the industrial products company's stock worth $76,000 after acquiring an additional 743 shares in the last quarter.
About Alcoa
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Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company' global bauxite mining operations. The Alumina segment includes the company's worldwide refining system, which processes bauxite into alumina.
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