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.
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.
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.
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