Alcoa (NYSE:AA) PT Raised to $42.00 at B. Riley

Alcoa (NYSE:AA – Get Rating) had its target price lifted by B. Riley from $41.00 to $42.00 in a report released on Thursday, Marketbeat reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. B. Riley’s price target points to a potential downside of 17.65% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets decreased their price objective on shares of Alcoa from $55.00 to $50.00 and set a “market perform” rating on the stock in a research report on Thursday. UBS Group assumed coverage on shares of Alcoa in a research report on Thursday, October 6th. They issued a “neutral” rating and a $43.00 price objective on the stock. TheStreet cut shares of Alcoa from a “b-” rating to a “c-” rating in a research report on Wednesday, October 19th. Credit Suisse Group reduced their price target 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. Finally, Wolfe Research cut shares of Alcoa from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 22nd. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.00.

Alcoa Price Performance

AA stock opened at $51.00 on Thursday. The firm’s 50-day moving average price is $47.61 and its two-hundred day moving average price is $45.69. Alcoa has a 12-month low of $33.55 and a 12-month high of $98.09. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of -60.71, a PEG ratio of 1.65 and a beta of 2.41. The company has a current ratio of 1.81, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25.

Alcoa (NYSE:AA – Get Rating) last released 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. Alcoa had a negative net margin of 0.91% and a positive return on equity of 22.27%. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the previous year, the company earned $2.50 earnings per share. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, equities analysts predict that Alcoa will post 4.62 earnings per share for the current year.

Institutional Investors Weigh In On Alcoa

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fiduciary Alliance LLC purchased a new stake in Alcoa in the fourth quarter worth about $105,000. Private Advisor Group LLC grew its holdings in Alcoa by 32.1% in the fourth 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 during the period. Romano Brothers AND Company purchased a new stake in Alcoa in the fourth quarter worth about $47,000. Douglas Lane & Associates LLC purchased a new stake in Alcoa in the fourth quarter worth about $16,083,000. Finally, Carmel Capital Partners LLC grew its holdings in Alcoa by 13.4% in the fourth 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 during the period.

About Alcoa

(Get Rating)

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.