Brokerages Set Alcoa (NYSE:AA) PT at $48.83

Alcoa (NYSE:AA) has been assigned an average recommendation of “Hold” from the thirteen analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $48.8333.

AA has been the subject of several recent research reports. Zacks Research upgraded Alcoa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 25th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $50.00 target price (up previously from $45.00) on shares of Alcoa in a report on Thursday, January 8th. HSBC upped their price target on shares of Alcoa from $33.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Argus set a $45.00 price objective on shares of Alcoa in a research note on Thursday, October 30th. Finally, Citigroup increased their target price on shares of Alcoa from $42.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, December 19th.

Alcoa Stock Up 2.9%

Shares of AA opened at $63.91 on Monday. The firm has a market cap of $16.55 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 0.25 and a beta of 1.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.56. Alcoa has a 52 week low of $21.53 and a 52 week high of $66.95. The firm’s 50-day simple moving average is $49.94 and its 200 day simple moving average is $38.96.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Hedge Funds Weigh In On Alcoa

A number of hedge funds have recently added to or reduced their stakes in AA. Pacer Advisors Inc. boosted its holdings in shares of Alcoa by 455.9% during the 3rd quarter. Pacer Advisors Inc. now owns 62,982 shares of the industrial products company’s stock valued at $2,071,000 after acquiring an additional 51,652 shares in the last quarter. Mackenzie Financial Corp raised its position in Alcoa by 121.7% in the second quarter. Mackenzie Financial Corp now owns 1,569,358 shares of the industrial products company’s stock valued at $46,312,000 after purchasing an additional 861,383 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Alcoa by 5.6% during the second quarter. Public Employees Retirement System of Ohio now owns 80,223 shares of the industrial products company’s stock valued at $2,367,000 after purchasing an additional 4,255 shares in the last quarter. Drummond Knight Asset Management Pty Ltd bought a new stake in shares of Alcoa during the second quarter worth about $44,893,000. Finally, Nordea Investment Management AB grew its holdings in shares of Alcoa by 190.8% during the third quarter. Nordea Investment Management AB now owns 142,050 shares of the industrial products company’s stock worth $4,592,000 after purchasing an additional 93,204 shares during the last quarter.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.