Alcoa (NYSE:AA) Price Target Raised to $40.00 at UBS Group

by · The Cerbat Gem

Alcoa (NYSE:AA – Get Free Report) had its price objective lifted by investment analysts at UBS Group from $38.00 to $40.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. UBS Group’s price target points to a potential upside of 18.24% from the stock’s previous close.

Several other brokerages also recently commented on AA. Bank of America reduced their price target on Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Wednesday, September 4th. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. B. Riley Financial restated a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a research report on Tuesday. Finally, B. Riley increased their price objective on shares of Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Alcoa currently has a consensus rating of “Hold” and an average price target of $40.45.

Check Out Our Latest Report on AA

Alcoa Stock Down 3.1 %

Shares of NYSE AA opened at $33.83 on Thursday. The company has a 50 day simple moving average of $32.61 and a 200 day simple moving average of $35.61. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. Alcoa has a 1 year low of $23.07 and a 1 year high of $45.48. The firm has a market cap of $6.07 billion, a PE ratio of -9.00 and a beta of 2.42.

Alcoa (NYSE:AA – Get Free Report) last released its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the firm earned ($0.35) earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, research analysts forecast that Alcoa will post 0.7 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new position in shares of Alcoa in the second quarter valued at $27,000. Scarborough Advisors LLC bought a new stake in shares of Alcoa during the fourth quarter worth about $39,000. Quest Partners LLC acquired a new stake in shares of Alcoa in the 4th quarter worth about $40,000. Quadrant Capital Group LLC lifted its position in 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 acquiring an additional 576 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,592 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Company Profile

(Get Free Report)

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.

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