Alcoa (NYSE:AA) Stock Rating Reaffirmed by B. Riley Financial

Alcoa (NYSE:AA)‘s stock had its “neutral” rating reaffirmed by analysts at B. Riley Financial in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. They presently have a $41.00 price objective on the industrial products company’s stock. B. Riley Financial’s price objective indicates a potential upside of 19.26% from the stock’s current price.

Several other research firms have also recently weighed in on AA. Morgan Stanley lowered their price objective on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Citigroup lifted their price objective on shares of Alcoa from $32.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research report on Wednesday, September 4th. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, Bank of America lowered their price target on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Alcoa currently has a consensus rating of “Hold” and a consensus target price of $40.27.

Alcoa Price Performance

NYSE AA opened at $34.38 on Tuesday. The stock has a market capitalization of $6.17 billion, a P/E ratio of -9.14 and a beta of 2.42. Alcoa has a 1 year low of $23.07 and a 1 year high of $45.48. The business’s fifty day moving average is $32.78 and its two-hundred day moving average is $35.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) earnings per share. On average, research analysts forecast that Alcoa will post 0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alcoa

Hedge funds and other institutional investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. acquired a new stake in shares of Alcoa in the second quarter valued at about $27,000. Spire Wealth Management lifted its stake in shares of Alcoa by 252.5% in the first quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after buying an additional 644 shares during the period. Scarborough Advisors LLC bought a new stake in shares of Alcoa in the fourth quarter valued at about $39,000. Quest Partners LLC bought a new stake in shares of Alcoa in the fourth quarter valued at about $40,000. Finally, Quadrant Capital Group LLC lifted its stake in Alcoa by 56.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 576 shares during the period. 82.39% of the stock is owned by institutional investors and hedge funds.

Alcoa Company Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.