B. Riley Increases Alcoa (NYSE:AA) Price Target to $41.00

Alcoa (NYSE:AA) had its price objective upped by research analysts at B. Riley from $37.00 to $41.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. B. Riley’s price objective would suggest a potential upside of 19.26% from the stock’s current price.

AA has been the topic of several other research reports. Bank of America lowered their target price on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Citigroup boosted their price target on shares of Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Morgan Stanley lowered 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. Finally, Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Wednesday, September 4th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.27.

Alcoa Trading Up 1.2 %

Shares of AA opened at $34.38 on Tuesday. Alcoa has a 52-week low of $23.07 and a 52-week 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’s fifty day moving average is $32.78 and its two-hundred day moving average is $35.62. The stock has a market cap of $6.17 billion, a PE ratio of -9.14 and a beta of 2.42.

Alcoa (NYSE:AA) last announced 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. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the company posted ($0.35) EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts forecast that Alcoa will post 0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Alcoa by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after purchasing an additional 390,930 shares during the period. ANTIPODES PARTNERS Ltd purchased a new stake in Alcoa during the second quarter worth about $93,061,000. L1 Capital Pty Ltd purchased a new stake in Alcoa during the first quarter worth about $72,658,000. Capital Research Global Investors increased its stake in Alcoa by 29.8% during the first quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock worth $69,869,000 after purchasing an additional 475,000 shares during the period. Finally, ARGA Investment Management LP increased its stake in Alcoa by 202.2% during 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. 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.