Analysts Set Alcoa Co. (NYSE:AA) Price Target at $23.90


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Alcoa Co. (NYSE:AA) has earned an average recommendation of “Buy” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $23.90.

Several research firms have weighed in on AA. B. Riley lifted their price objective on shares of Alcoa from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, January 21st. Deutsche Bank Aktiengesellschaft raised Alcoa from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Tuesday, March 23rd. The Goldman Sachs Group raised shares of Alcoa from a “sell” rating to a “buy” rating and increased their price target for the stock from $19.00 to $32.00 in a research report on Tuesday, March 9th. Zacks Investment Research raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Friday, March 26th. Finally, Morgan Stanley upgraded Alcoa from an “equal weight” rating to an “overweight” rating and set a $43.00 price objective for the company in a report on Monday, March 29th.

Shares of NYSE AA opened at $31.52 on Monday. The stock’s fifty day simple moving average is $28.98 and its 200 day simple moving average is $21.01. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of -12.51 and a beta of 2.51. The company has a quick ratio of 1.15, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. Alcoa has a 52-week low of $6.38 and a 52-week high of $34.29.

Alcoa (NYSE:AA) last released its quarterly earnings results on Tuesday, January 19th. The industrial products company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.15. Alcoa had a negative return on equity of 5.83% and a negative net margin of 5.03%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter last year, the company posted ($0.31) EPS. Alcoa’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, analysts anticipate that Alcoa will post -1.31 earnings per share for the current year.

In other Alcoa news, EVP Tammi A. Jones sold 2,731 shares of the business’s stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $31.89, for a total value of $87,091.59. Following the sale, the executive vice president now owns 43,562 shares of the company’s stock, valued at approximately $1,389,192.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Several hedge funds have recently added to or reduced their stakes in AA. Van ECK Associates Corp boosted its position in Alcoa by 56.7% in the third quarter. Van ECK Associates Corp now owns 3,262 shares of the industrial products company’s stock valued at $38,000 after buying an additional 1,180 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its position in Alcoa by 0.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 187,756 shares of the industrial products company’s stock worth $5,287,000 after acquiring an additional 1,251 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Alcoa by 3.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 40,541 shares of the industrial products company’s stock valued at $934,000 after purchasing an additional 1,411 shares in the last quarter. Exane Derivatives increased its stake in shares of Alcoa by 11.2% in the fourth quarter. Exane Derivatives now owns 16,979 shares of the industrial products company’s stock valued at $391,000 after buying an additional 1,709 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Alcoa by 11.6% in the fourth quarter. Teacher Retirement System of Texas now owns 17,014 shares of the industrial products company’s stock worth $392,000 after acquiring an additional 1,772 shares during the last quarter.

Alcoa Company Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, 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, casting, and rolling businesses.

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Analyst Recommendations for Alcoa (NYSE:AA)

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