Alcoa Co. (NYSE:AA – Get Rating)’s share price gapped down before the market opened on Thursday after Morgan Stanley lowered their price target on the stock from $56.00 to $52.00. The stock had previously closed at $53.45, but opened at $50.38. Morgan Stanley currently has an equal weight rating on the stock. Alcoa shares last traded at $52.19, with a volume of 116,953 shares.
Other equities analysts have also issued research reports about the company. TheStreet lowered Alcoa from a “b-” rating to a “c-” rating in a research note on Wednesday, October 19th. Wolfe Research lowered Alcoa from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 22nd. BMO Capital Markets cut their price objective on Alcoa from $55.00 to $50.00 and set a “market perform” rating on the stock in a report on Thursday. StockNews.com started coverage on Alcoa in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Citigroup raised their price objective on Alcoa from $45.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.00.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in AA. Fairfield Bush & CO. bought a new stake in Alcoa in the 1st quarter valued at about $29,000. US Bancorp DE increased its position in Alcoa by 4.9% in the 1st quarter. US Bancorp DE now owns 9,359 shares of the industrial products company’s stock valued at $842,000 after buying an additional 434 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Alcoa in the 1st quarter valued at about $435,000. Great West Life Assurance Co. Can increased its position in Alcoa by 8.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 108,717 shares of the industrial products company’s stock valued at $10,089,000 after buying an additional 8,028 shares in the last quarter. Finally, Blair William & Co. IL bought a new stake in Alcoa in the 1st quarter valued at about $242,000.
Alcoa Price Performance
Alcoa (NYSE:AA – Get Rating) last issued its quarterly earnings data on Wednesday, January 18th. The industrial products company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.05. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. Alcoa had a positive return on equity of 22.27% and a negative net margin of 0.91%. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 EPS. On average, sell-side analysts predict that Alcoa Co. will post 4.62 earnings per share for the current fiscal year.
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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