Alcoa (NYSE:AA) PT Raised to $40.00 at UBS Group

Alcoa (NYSE:AA) had its price target hoisted by UBS Group from $38.00 to $40.00 in a research note issued on Thursday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the industrial products company’s stock. UBS Group’s price objective would indicate a potential upside of 18.24% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Bank of America dropped their price objective on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Morgan Stanley lowered their price target on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. B. Riley boosted their price objective on Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, B. Riley Financial restated a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Alcoa presently has an average rating of “Hold” and an average target price of $40.45.

Alcoa Trading Down 3.1 %

NYSE AA opened at $33.83 on Thursday. The company has a market cap of $6.07 billion, a PE ratio of -9.00 and a beta of 2.42. Alcoa has a 12 month low of $23.07 and a 12 month high of $45.48. The stock has a 50 day moving average of $32.61 and a 200-day moving average of $35.61. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

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

Hedge Funds Weigh In On Alcoa

Hedge funds and other institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC bought a new stake in shares of Alcoa during the 4th quarter worth $247,000. Vanguard Personalized Indexing Management LLC raised its stake in Alcoa by 34.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 19,788 shares of the industrial products company’s stock worth $673,000 after acquiring an additional 5,058 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Alcoa by 4.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 37,158 shares of the industrial products company’s stock worth $1,263,000 after acquiring an additional 1,676 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Alcoa by 56.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 576 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Alcoa in the 4th quarter valued at approximately $45,730,000. 82.39% of the stock is currently 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.