B. Riley Financial Forecasts Strong Price Appreciation for Alcoa (NYSE:AA) Stock

Alcoa (NYSE:AA) had its target price increased by research analysts at B. Riley Financial from $78.00 to $96.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. B. Riley Financial’s price objective points to a potential upside of 32.58% from the stock’s current price.

Several other equities research analysts have also weighed in on AA. Wells Fargo & Company set a $68.00 target price on shares of Alcoa in a report on Thursday, March 12th. Citigroup upped their price objective on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Zacks Research cut shares of Alcoa from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alcoa presently has an average rating of “Hold” and an average target price of $55.55.

Alcoa Price Performance

Alcoa stock traded up $1.40 during trading hours on Tuesday, hitting $72.41. 1,997,042 shares of the stock were exchanged, compared to its average volume of 7,634,597. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.44. The stock has a market capitalization of $19.11 billion, a P/E ratio of 16.40 and a beta of 1.70. Alcoa has a 12 month low of $21.53 and a 12 month high of $73.38. The business’s 50-day moving average is $61.77 and its two-hundred day moving average is $50.52.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.31. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share. Equities research analysts expect that Alcoa will post 4.43 EPS for the current fiscal year.

Institutional Trading of Alcoa

Several institutional investors and hedge funds have recently made changes to their positions in AA. Basepoint Wealth LLC purchased a new position in shares of Alcoa during the fourth quarter valued at $25,000. Advisory Services Network LLC purchased a new stake in shares of Alcoa during the third quarter worth about $27,000. Raleigh Capital Management Inc. lifted its holdings in shares of Alcoa by 52,500.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 525 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Alcoa during the third quarter worth about $29,000. Finally, CoreCap Advisors LLC lifted its holdings in shares of Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 237 shares during the period. 82.39% of the stock is currently owned by institutional investors.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.