Morgan Stanley Raises Alcoa (NYSE:AA) Price Target to $49.00

Alcoa (NYSE:AA) had its target price lifted by investment analysts at Morgan Stanley from $48.00 to $49.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price objective indicates a potential upside of 18.76% from the stock’s current price.

AA has been the subject of a number of other research reports. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $41.00 to $50.00 in a research report on Thursday. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their target price on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday. 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 report on Thursday. Finally, Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alcoa currently has an average rating of “Moderate Buy” and an average target price of $44.45.

Alcoa Stock Up 2.3 %

AA stock opened at $41.26 on Friday. 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 has a 1 year low of $23.07 and a 1 year high of $45.48. The company has a fifty day simple moving average of $34.74 and a 200 day simple moving average of $36.74. The firm has a market cap of $7.41 billion, a PE ratio of -10.97 and a beta of 2.42.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.34. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. Alcoa’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.14) EPS. Sell-side analysts anticipate that Alcoa will post 0.29 EPS for the current fiscal year.

Institutional Trading of Alcoa

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Douglas Lane & Associates LLC increased its stake in Alcoa by 12.9% in the first quarter. Douglas Lane & Associates LLC now owns 1,351,720 shares of the industrial products company’s stock valued at $45,675,000 after acquiring an additional 154,403 shares during the period. ARGA Investment Management LP grew its stake in Alcoa by 202.2% during the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after buying an additional 997,912 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Alcoa during the first quarter worth about $593,000. U.S. Capital Wealth Advisors LLC bought a new stake in Alcoa during the second quarter worth about $706,000. Finally, Blue Trust Inc. grew its stake in Alcoa by 536.7% during the second quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company’s stock worth $114,000 after buying an additional 2,426 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

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.