Alcoa Co. (NYSE:AA) Receives $46.55 Consensus Price Target from Brokerages

Shares of Alcoa Co. (NYSE:AA) have been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $46.55.

A number of analysts have commented on AA shares. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Wednesday, October 23rd. BMO Capital Markets boosted their target price on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. B. Riley raised Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Jefferies Financial Group dropped their target price on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 6th.

Alcoa Stock Down 0.6 %

Shares of NYSE AA opened at $36.02 on Monday. Alcoa has a 12-month low of $24.86 and a 12-month high of $47.77. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The firm has a market cap of $9.30 billion, a PE ratio of -225.09, a P/E/G ratio of 0.20 and a beta of 2.43. The company’s fifty day simple moving average is $38.60 and its 200 day simple moving average is $37.50.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. As a group, sell-side analysts forecast that Alcoa will post 4.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AA. Mountaineer Partners Management LLC increased its holdings in Alcoa by 4,023.0% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after acquiring an additional 10,534,036 shares during the last quarter. State Street Corp boosted its position in Alcoa by 23.3% during the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock worth $368,965,000 after purchasing an additional 1,805,915 shares during the period. Geode Capital Management LLC increased its stake in shares of Alcoa by 42.0% in the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock worth $161,838,000 after purchasing an additional 1,239,479 shares in the last quarter. ARGA Investment Management LP raised its position in shares of Alcoa by 29.6% in the fourth quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock valued at $113,276,000 after purchasing an additional 684,505 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Alcoa by 8.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,550,861 shares of the industrial products company’s stock valued at $96,372,000 after buying an additional 192,078 shares in the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

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.