Alcoa (NYSE:AA) PT Raised to $51.00

Alcoa (NYSE:AA) had its target price raised by stock analysts at B. Riley from $45.00 to $51.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. B. Riley’s price target would suggest a potential upside of 5.24% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Citigroup upgraded Alcoa from a “neutral” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Friday, July 16th. Zacks Investment Research raised Alcoa from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Monday. Morgan Stanley raised their target price on Alcoa from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, July 20th. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and boosted their price target for the stock from $49.94 to $58.00 in a report on Wednesday, September 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Alcoa from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, September 16th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $51.00.

AA stock opened at $48.46 on Tuesday. The firm has a market capitalization of $9.06 billion, a PE ratio of 21.25 and a beta of 2.65. The company has a quick ratio of 0.99, a current ratio of 1.57 and a debt-to-equity ratio of 0.41. Alcoa has a twelve month low of $10.98 and a twelve month high of $51.89. The stock’s 50 day moving average is $42.02 and its 200-day moving average is $37.63.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 14th. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.18. Alcoa had a return on equity of 5.16% and a net margin of 4.12%. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the business earned ($0.02) EPS. The business’s revenue was up 31.9% on a year-over-year basis. On average, equities research analysts anticipate that Alcoa will post 5.08 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Lion Point Capital LP bought a new stake in shares of Alcoa during the 1st quarter valued at $32,000. Retirement Group LLC purchased a new position in Alcoa during the 2nd quarter valued at about $37,000. Eudaimonia Partners LLC bought a new stake in shares of Alcoa during the first quarter valued at about $41,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Alcoa by 83.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,554 shares of the industrial products company’s stock worth $50,000 after buying an additional 705 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its position in shares of Alcoa by 521.3% in the first quarter. Jacobi Capital Management LLC now owns 1,895 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 1,590 shares during the period.

Alcoa Company Profile

Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.

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