Alcoa (NYSE:AA) Price Target Raised to $41.00

Alcoa (NYSE:AA) had its price target lifted by investment analysts at B. Riley from $37.00 to $41.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. B. Riley’s price objective suggests a potential upside of 19.26% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Citigroup upped their target price on shares of Alcoa from $32.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target for the company in a report on Wednesday, September 4th. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Morgan Stanley lowered their price target on Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Finally, Bank of America lowered their price target on Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and a consensus target price of $40.27.

Alcoa Stock Up 1.2 %

AA stock opened at $34.38 on Tuesday. The company’s 50 day moving average price is $32.78 and its 200 day moving average price 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 has a fifty-two week low of $23.07 and a fifty-two week high of $45.48. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of -9.14 and a beta of 2.42.

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

Institutional Investors Weigh In On Alcoa

Several large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Alcoa during the second quarter worth $296,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Alcoa during the second quarter worth $27,000. Sanctuary Advisors LLC acquired a new stake in shares of Alcoa during the second quarter worth $304,000. Senator Investment Group LP acquired a new stake in shares of Alcoa during the second quarter worth $8,610,000. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of Alcoa during the second quarter worth $102,000. 82.39% of the stock is owned by institutional investors and hedge funds.

About Alcoa

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.