Jefferies Financial Group Has Lowered Expectations for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its target price lowered by analysts at Jefferies Financial Group from $50.00 to $45.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 26.02% from the company’s current price.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and increased their target price for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. BMO Capital Markets upped their price objective on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. B. Riley Financial reissued a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. Finally, Morgan Stanley upped their price target on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.45.

Alcoa Stock Down 6.0 %

AA opened at $35.71 on Monday. The firm has a market cap of $9.23 billion, a P/E ratio of -20.29, a PEG ratio of 0.79 and a beta of 2.47. The business’s fifty day simple moving average is $41.76 and its 200 day simple moving average is $37.95. Alcoa has a 52 week low of $24.86 and a 52 week high of $47.77. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned ($1.14) EPS. As a group, equities research analysts anticipate that Alcoa will post 0.9 EPS for the current fiscal year.

Insider Transactions at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the transaction, the executive vice president now owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On Alcoa

Institutional investors have recently made changes to their positions in the business. Retirement Systems of Alabama grew its holdings in Alcoa by 41.6% during the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock worth $12,107,000 after acquiring an additional 92,201 shares in the last quarter. ING Groep NV acquired a new position in Alcoa in the third quarter worth about $10,201,000. Douglas Lane & Associates LLC increased its holdings in Alcoa by 2.0% in the third quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock valued at $54,859,000 after buying an additional 27,217 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Alcoa by 6.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company’s stock valued at $24,233,000 after buying an additional 36,869 shares in the last quarter. Finally, Aigen Investment Management LP lifted its holdings in Alcoa by 73.0% during the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock worth $1,422,000 after buying an additional 15,546 shares during the last quarter. 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.