Alcoa (NYSE:AA) Price Target Increased to $40.00 by Analysts at UBS Group

Alcoa (NYSE:AA) had its price target increased by analysts at UBS Group from $38.00 to $40.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. UBS Group’s target price points to a potential upside of 13.90% from the company’s current price.

Several other equities research analysts have also weighed in on the company. B. Riley boosted their target price on Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Wednesday, September 4th. Morgan Stanley decreased their target price on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Bank of America decreased their price objective on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, July 18th. Finally, StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $40.45.

Alcoa Stock Up 2.3 %

Shares of NYSE:AA traded up $0.78 during trading on Thursday, reaching $35.12. 3,664,807 shares of the company traded hands, compared to its average volume of 6,006,265. Alcoa has a 1-year low of $23.07 and a 1-year high of $45.48. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The firm has a market cap of $6.31 billion, a P/E ratio of -9.35 and a beta of 2.42. The firm has a fifty day simple moving average of $32.70 and a 200 day simple moving average of $35.61.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.35) EPS. Analysts anticipate that Alcoa will post 0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alcoa

Institutional investors have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd acquired a new position in Alcoa in the 2nd quarter valued at about $93,061,000. L1 Capital Pty Ltd bought a new position in Alcoa during the 1st quarter worth $72,658,000. Norges Bank acquired a new position in Alcoa in the 4th quarter valued at $45,730,000. Marshall Wace LLP lifted its position in shares of Alcoa by 770.9% during the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock valued at $56,599,000 after acquiring an additional 1,259,430 shares during the period. Finally, ARGA Investment Management LP increased its position in shares of Alcoa by 202.2% in the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after purchasing an additional 997,912 shares during the period. 82.39% of the stock is owned by institutional investors.

Alcoa Company Profile

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.