Alcoa (NYSE:AA – Get Rating) had its price target increased by Citigroup from $45.00 to $55.00 in a research note issued on Thursday, The Fly reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price target indicates a potential upside of 7.84% from the company’s current price.
Several other analysts also recently weighed in on the company. Morgan Stanley downgraded Alcoa from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $60.00 to $56.00 in a research note on Friday, December 9th. Wolfe Research cut Alcoa from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 22nd. Credit Suisse Group decreased their price objective on Alcoa from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Thursday, October 20th. StockNews.com initiated coverage on Alcoa in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, B. Riley boosted their price objective on Alcoa from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.00.
Alcoa Stock Up 3.0 %
Alcoa stock opened at $51.00 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.81. The business’s 50-day simple moving average is $47.61 and its two-hundred day simple moving average is $45.69. The company has a market cap of $9.02 billion, a PE ratio of -60.71, a PEG ratio of 1.65 and a beta of 2.41. Alcoa has a fifty-two week low of $33.55 and a fifty-two week high of $98.09.
Hedge Funds Weigh In On Alcoa
A number of large investors have recently bought and sold shares of the business. Fiduciary Alliance LLC acquired a new position in Alcoa in the 4th quarter worth about $105,000. Private Advisor Group LLC raised its holdings in shares of Alcoa by 32.1% during the fourth quarter. Private Advisor Group LLC now owns 14,323 shares of the industrial products company’s stock valued at $293,003,000 after acquiring an additional 3,483 shares during the last quarter. Romano Brothers AND Company acquired a new position in shares of Alcoa during the fourth quarter valued at approximately $47,000. Douglas Lane & Associates LLC acquired a new position in shares of Alcoa during the fourth quarter valued at approximately $16,083,000. Finally, Carmel Capital Partners LLC raised its holdings in shares of Alcoa by 13.4% during the fourth quarter. Carmel Capital Partners LLC now owns 27,429 shares of the industrial products company’s stock valued at $1,247,000 after acquiring an additional 3,242 shares during the last quarter.
Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.
- Get a free copy of the StockNews.com research report on Alcoa (AA)
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