Alcoa (NYSE:AA) Given New $41.00 Price Target at B. Riley

Alcoa (NYSE:AA) had its price objective increased by equities researchers at B. Riley from $37.00 to $41.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. B. Riley’s target price would suggest a potential upside of 18.84% from the company’s previous close.

Several other research firms have also issued reports on AA. Citigroup increased their target price on Alcoa from $32.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Wednesday, September 4th. Bank of America decreased 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. Finally, UBS Group upgraded shares of Alcoa from a “sell” rating to a “buy” rating and upped their target price for the stock from $32.00 to $38.00 in a research note on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $38.91.

Alcoa Stock Performance

AA opened at $34.50 on Tuesday. The firm has a market capitalization of $6.19 billion, a PE ratio of -9.18 and a beta of 2.42. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Alcoa has a twelve month low of $23.07 and a twelve month high of $45.48. The firm’s 50-day moving average price is $32.90 and its 200 day moving average price is $35.58.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. Alcoa’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.35) earnings per share. As a group, sell-side analysts expect that Alcoa will post 0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Alcoa

Several hedge funds have recently made changes to their positions in AA. Private Advisor Group LLC purchased a new stake in Alcoa in the 4th quarter valued at $247,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Alcoa by 34.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 19,788 shares of the industrial products company’s stock worth $673,000 after buying an additional 5,058 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Alcoa by 4.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 37,158 shares of the industrial products company’s stock valued at $1,263,000 after acquiring an additional 1,676 shares during the period. Quadrant Capital Group LLC raised its stake in Alcoa by 56.0% during 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 during the last quarter. Finally, ING Groep NV acquired a new stake in Alcoa during the 4th quarter worth approximately $1,326,000. Hedge funds and other 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.