Alcoa (NYSE:AA) PT Raised to $48.00

Alcoa (NYSE:AA) had its price target raised by equities research analysts at Jefferies Financial Group from $45.00 to $48.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 33.30% from the company’s current price.

AA has been the subject of several other reports. JPMorgan Chase & Co. lifted their price target on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. UBS Group assumed coverage on Alcoa in a research report on Tuesday, January 16th. They issued a “sell” rating and a $29.00 price objective for the company. Bank of America increased their target price on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Finally, BMO Capital Markets lifted their price target on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.21.

Alcoa Price Performance

NYSE AA traded up $0.46 on Thursday, reaching $36.01. The company’s stock had a trading volume of 5,243,540 shares, compared to its average volume of 6,346,286. Alcoa has a 52 week low of $23.07 and a 52 week high of $42.23. The firm has a market cap of $6.47 billion, a PE ratio of -9.87, a price-to-earnings-growth ratio of 2.32 and a beta of 2.47. The business has a 50-day moving average price of $30.81 and a 200 day moving average price of $28.97. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the firm earned ($0.23) EPS. Alcoa’s quarterly revenue was down 2.7% compared to the same quarter last year. Sell-side analysts expect that Alcoa will post 0.33 EPS for the current year.

Insider Transactions at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the transaction, the executive vice president now owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AA. Fairfield Bush & CO. acquired a new stake in shares of Alcoa during the first quarter worth about $29,000. Neo Ivy Capital Management acquired a new position in shares of Alcoa during the second quarter worth about $27,000. Resurgent Financial Advisors LLC bought a new position in shares of Alcoa during the fourth quarter worth about $32,000. ICA Group Wealth Management LLC bought a new stake in Alcoa in the 4th quarter valued at approximately $36,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of Alcoa during the 4th quarter worth approximately $31,000.

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.