Alcoa (NYSE:AA) Price Target Raised to $43.00 at B. Riley

Alcoa (NYSE:AA) had its price objective increased by equities researchers at B. Riley from $39.00 to $43.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. B. Riley’s price target points to a potential upside of 14.27% from the company’s previous close.

A number of other research analysts have also weighed in on the company. BMO Capital Markets boosted their target price on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Citigroup upped their price objective on Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. UBS Group upped their price objective on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a report on Friday, April 19th. Bank of America upped their price objective on Alcoa from $40.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, June 26th. Finally, Jefferies Financial Group upped their price objective on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Alcoa has a consensus rating of “Hold” and a consensus target price of $39.55.

Alcoa Stock Performance

Shares of AA stock traded up $0.82 during trading on Thursday, reaching $37.63. 1,222,198 shares of the company’s stock were exchanged, compared to its average volume of 5,831,961. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $6.76 billion, a PE ratio of -9.90 and a beta of 2.45. Alcoa has a twelve month low of $23.07 and a twelve month high of $45.48. The firm’s fifty day moving average price is $40.53 and its 200-day moving average price is $34.60.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) EPS. As a group, sell-side analysts anticipate that Alcoa will post 2.19 EPS for the current year.

Institutional Trading of Alcoa

Several large investors have recently bought and sold shares of the business. Spire Wealth Management boosted its stake in shares of Alcoa by 252.5% during the first quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Alcoa in the fourth quarter worth approximately $31,000. Private Wealth Management Group LLC acquired a new position in shares of Alcoa in the fourth quarter worth approximately $33,000. Quent Capital LLC lifted its stake in shares of Alcoa by 64.2% in the fourth quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 387 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in shares of Alcoa in the fourth quarter worth approximately $39,000.

About Alcoa

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.