Alcoa (NYSE:AA) Lifted to “Buy” at UBS Group

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

Other analysts have also issued research reports about the company. Wolfe Research raised Alcoa from an “underperform” rating to a “peer perform” rating in a report on Friday, August 2nd. Morgan Stanley cut their price objective on Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Jefferies Financial Group lifted their price objective on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Bank of America cut their price objective on Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Finally, B. Riley boosted their target price on Alcoa from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Alcoa presently has an average rating of “Hold” and an average target price of $39.40.

Alcoa Stock Up 2.0 %

AA traded up $0.61 on Monday, reaching $31.17. 1,579,797 shares of the company traded hands, compared to its average volume of 6,133,219. Alcoa has a 52-week low of $23.07 and a 52-week high of $45.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The company has a market cap of $5.60 billion, a price-to-earnings ratio of -8.28 and a beta of 2.45. The stock’s 50 day moving average price is $37.33 and its 200-day moving average price is $34.85.

Alcoa (NYSE:AA) last posted its quarterly 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 company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the business earned ($0.35) EPS. On average, sell-side analysts expect that Alcoa will post 0.7 EPS for the current fiscal year.

Institutional Trading of Alcoa

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Alcoa by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock valued at $265,132,000 after buying an additional 390,930 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in Alcoa in the second quarter valued at approximately $93,061,000. L1 Capital Pty Ltd bought a new stake in Alcoa in the first quarter valued at approximately $72,658,000. Capital Research Global Investors raised its stake in Alcoa by 29.8% in the first quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after buying an additional 475,000 shares during the period. Finally, ARGA Investment Management LP raised its stake in Alcoa by 202.2% in the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock valued at $50,399,000 after buying an additional 997,912 shares during the period. Institutional investors 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.