Alcoa (NYSE:AA) PT Raised to $50.00 at UBS Group

Alcoa (NYSE:AA) had its price objective boosted by UBS Group from $40.00 to $50.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. UBS Group’s price objective suggests a potential upside of 18.79% from the company’s current price.

A number of other brokerages also recently issued reports on AA. B. Riley Financial reiterated a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. Morgan Stanley reduced their price target on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $43.00 to $52.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. assumed coverage on Alcoa in a research note on Wednesday, September 25th. They set a “neutral” rating and a $36.00 target price for the company. Finally, StockNews.com lowered Alcoa from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Alcoa has a consensus rating of “Hold” and a consensus price target of $42.55.

Alcoa Stock Up 1.9 %

NYSE AA opened at $42.09 on Tuesday. The company has a market cap of $7.56 billion, a price-to-earnings ratio of -11.19 and a beta of 2.42. Alcoa has a 1-year low of $23.07 and a 1-year high of $45.48. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $34.55 and a 200-day moving average of $36.71.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $2.91 billion for 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%. Alcoa’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.35) EPS. On average, equities research analysts expect that Alcoa will post 0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp raised its position in Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 309 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Alcoa by 1.4% during the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock worth $1,073,000 after acquiring an additional 368 shares during the last quarter. Diversified Trust Co lifted its stake in shares of Alcoa by 5.7% in the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 416 shares during the period. CWM LLC boosted its holdings in Alcoa by 19.5% in the second quarter. CWM LLC now owns 3,651 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 596 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 631 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

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.