Alcoa (NYSE:AA) PT Raised to $31.00 at B. Riley

Alcoa (NYSE:AA) had its price target raised by analysts at B. Riley from $25.00 to $31.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. B. Riley’s price target would indicate a potential downside of 12.75% from the stock’s previous close. B. Riley also issued estimates for Alcoa’s FY2025 earnings at $1.64 EPS.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley lifted their price objective on shares of Alcoa from $27.00 to $29.50 and gave the company an “underweight” rating in a research note on Thursday, January 18th. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Jefferies Financial Group lifted their price objective on shares of Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group began coverage on shares of Alcoa in a research note on Tuesday, January 16th. They issued a “sell” rating and a $29.00 price objective for the company. Finally, BMO Capital Markets lifted their price objective on shares of Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.96.

Alcoa Trading Up 0.2 %

Alcoa stock opened at $35.53 on Thursday. The company’s fifty day simple moving average is $31.14 and its 200-day simple moving average is $29.06. The company has a quick ratio of 0.74, a current ratio of 1.45 and a debt-to-equity ratio of 0.30. Alcoa has a 12 month low of $23.07 and a 12 month high of $42.23. The stock has a market cap of $6.38 billion, a P/E ratio of -9.45, a P/E/G ratio of 2.28 and a beta of 2.47.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.30%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that Alcoa will post 0.33 EPS for the current fiscal year.

Insider Activity

In other news, EVP Tammi A. Jones sold 26,468 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the transaction, the executive vice president now owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Alcoa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moors & Cabot Inc. increased its stake in Alcoa by 2.2% in the first quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company’s stock valued at $788,000 after acquiring an additional 185 shares during the period. Thrivent Financial for Lutherans grew its stake in Alcoa by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 48,391 shares of the industrial products company’s stock worth $2,206,000 after buying an additional 284 shares during the last quarter. State of Wisconsin Investment Board grew its stake in Alcoa by 0.4% during the fourth quarter. State of Wisconsin Investment Board now owns 90,102 shares of the industrial products company’s stock worth $4,097,000 after buying an additional 317 shares during the last quarter. Fairfield Bush & CO. bought a new stake in Alcoa during the first quarter worth about $29,000. Finally, Daiwa Securities Group Inc. grew its stake in Alcoa by 1.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company’s stock worth $900,000 after buying an additional 338 shares during the last quarter.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.