Alcoa (NYSE:AA) Price Target Increased to $31.00 by Analysts at B. Riley

Alcoa (NYSE:AA) had its price target increased by stock analysts at B. Riley from $25.00 to $31.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. B. Riley’s price target points to a potential downside of 12.36% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group lifted their target price on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley boosted their price target on Alcoa from $27.00 to $29.50 and gave the stock an “underweight” rating in a research note on Thursday, January 18th. UBS Group initiated coverage on Alcoa in a research note on Tuesday, January 16th. They set a “sell” rating and a $29.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Finally, StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.71.

Alcoa Stock Down 0.5 %

Shares of Alcoa stock traded down $0.18 during trading on Thursday, hitting $35.37. 7,548,177 shares of the stock traded hands, compared to its average volume of 6,377,991. The firm has a market cap of $6.35 billion, a P/E ratio of -9.69, a price-to-earnings-growth ratio of 2.32 and a beta of 2.47. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30. Alcoa has a 52-week low of $23.07 and a 52-week high of $42.23. The stock’s fifty day simple moving average is $30.81 and its 200 day simple moving average is $28.97.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.23) EPS. On average, equities analysts predict that Alcoa will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the transaction, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Raymond James & Associates increased its position in shares of Alcoa by 3,731.1% in the fourth quarter. Raymond James & Associates now owns 799,705 shares of the industrial products company’s stock valued at $27,190,000 after buying an additional 778,831 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Alcoa by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,234,472 shares of the industrial products company’s stock valued at $35,874,000 after buying an additional 54,876 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Alcoa by 132.2% during the fourth quarter. Nordea Investment Management AB now owns 112,082 shares of the industrial products company’s stock worth $3,824,000 after purchasing an additional 63,816 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Alcoa during the fourth quarter worth approximately $227,000. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of Alcoa by 90.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 61,801 shares of the industrial products company’s stock worth $1,796,000 after purchasing an additional 29,431 shares in the last quarter.

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.