Alcoa (NYSE:AA) Upgraded at UBS Group

Alcoa (NYSE:AA) was upgraded by research analysts at UBS Group from a “sell” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat reports. The firm currently has a $38.00 target price on the industrial products company’s stock, up from their prior target price of $32.00. UBS Group’s price target would suggest a potential upside of 21.91% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Jefferies Financial Group increased their target price on Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Bank of America lowered their price objective on Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, July 18th. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Citigroup raised their price target on Alcoa from $32.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Finally, B. Riley raised their price target on Alcoa from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.40.

Alcoa Stock Up 2.0 %

Shares of AA traded up $0.61 on Monday, hitting $31.17. 1,579,797 shares of the stock traded hands, compared to its average volume of 6,133,219. The company has a market capitalization of $5.60 billion, a PE ratio of -8.28 and a beta of 2.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The business has a 50 day simple moving average of $37.33 and a 200 day simple moving average of $34.85. Alcoa has a one year low of $23.07 and a one year high of $45.48.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the firm posted ($0.35) EPS. The firm’s revenue was up 8.3% on a year-over-year basis. As a group, equities analysts forecast that Alcoa will post 0.7 earnings per share for the current fiscal year.

Institutional Trading of Alcoa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in shares of Alcoa by 15.1% in the 2nd 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 during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Alcoa by 1.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company’s stock valued at $900,000 after buying an additional 338 shares during the period. Diversified Trust Co lifted its holdings in shares of Alcoa by 5.7% in the 1st quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock valued at $262,000 after buying an additional 416 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Alcoa by 0.7% in the 4th quarter. Yousif Capital Management LLC now owns 87,960 shares of the industrial products company’s stock valued at $2,991,000 after buying an additional 574 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Alcoa by 56.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock valued at $55,000 after buying an additional 576 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.