Alcoa (NYSE:AA) Price Target Lowered to $50.00 at BMO Capital Markets

Alcoa (NYSE:AA – Get Rating) had its price target cut by equities research analysts at BMO Capital Markets from $55.00 to $50.00 in a report issued on Thursday, The Fly reports. The brokerage presently has a “market perform” rating on the industrial products company’s stock. BMO Capital Markets’ price objective points to a potential downside of 1.96% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Alcoa from $75.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, October 13th. Credit Suisse Group reduced their price objective on shares of Alcoa from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, October 20th. Wolfe Research downgraded shares of Alcoa from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 22nd. UBS Group started coverage on shares of Alcoa in a report on Thursday, October 6th. They set a “neutral” rating and a $43.00 target price on the stock. Finally, TheStreet cut shares of Alcoa from a “b-” rating to a “c-” rating in a report on Wednesday, October 19th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $68.00.

Alcoa Stock Up 3.0 %

Shares of Alcoa stock opened at $51.00 on Thursday. The company has a current ratio of 1.81, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25. The company’s fifty 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 P/E ratio of -60.71, a PEG ratio of 1.65 and a beta of 2.41. Alcoa has a 12-month low of $33.55 and a 12-month high of $98.09.

Alcoa (NYSE:AA – Get Rating) last issued its quarterly earnings data on Wednesday, January 18th. The industrial products company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.05. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.70 billion. Alcoa had a negative net margin of 0.91% and a positive return on equity of 22.27%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.50 EPS. Research analysts anticipate that Alcoa will post 4.62 EPS for the current year.

Hedge Funds Weigh In On Alcoa

A number of hedge funds have recently bought and sold shares of the company. Fiduciary Alliance LLC bought a new position in Alcoa in the 4th quarter worth about $105,000. Private Advisor Group LLC boosted its stake in Alcoa by 32.1% in the 4th quarter. Private Advisor Group LLC now owns 14,323 shares of the industrial products company’s stock worth $293,003,000 after purchasing an additional 3,483 shares in the last quarter. Romano Brothers AND Company bought a new position in Alcoa in the 4th quarter worth about $47,000. Douglas Lane & Associates LLC bought a new position in Alcoa in the 4th quarter worth about $16,083,000. Finally, Carmel Capital Partners LLC boosted its stake in Alcoa by 13.4% in the 4th quarter. Carmel Capital Partners LLC now owns 27,429 shares of the industrial products company’s stock worth $1,247,000 after purchasing an additional 3,242 shares in the last quarter.

About Alcoa

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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.