Morgan Stanley Raises Alcoa (NYSE:AA) Price Target to $49.00

Alcoa (NYSE:AA) had its target price lifted by stock analysts at Morgan Stanley from $48.00 to $49.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s target price would indicate a potential upside of 17.48% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday. BMO Capital Markets raised their price target on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $43.00 to $52.00 in a research note on Tuesday, October 1st. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, B. Riley Financial restated a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.45.

Alcoa Trading Up 3.4 %

Shares of NYSE AA opened at $41.71 on Friday. The stock has a market capitalization of $7.49 billion, a P/E ratio of -11.09 and a beta of 2.42. The stock’s 50 day moving average price is $34.96 and its two-hundred day moving average price is $36.80. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. Alcoa has a 52-week low of $23.07 and a 52-week high of $45.48.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.14) earnings per share. On average, analysts anticipate that Alcoa will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Alcoa

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Alcoa in the 2nd quarter worth approximately $27,000. UMB Bank n.a. increased its stake in Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 631 shares in the last quarter. Toronto Dominion Bank raised its holdings in Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock worth $57,000 after buying an additional 1,592 shares during the period. Fifth Third Bancorp lifted its stake in Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after buying an additional 309 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Alcoa in the first quarter worth about $101,000. Institutional investors 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.