B. Riley Financial Issues Positive Forecast for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its price objective raised by investment analysts at B. Riley Financial from $78.00 to $96.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. B. Riley Financial’s price objective would suggest a potential upside of 32.58% from the stock’s current price.

A number of other brokerages also recently weighed in on AA. UBS Group boosted their target price on shares of Alcoa from $48.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. JPMorgan Chase & Co. raised Alcoa from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $50.00 to $68.00 in a research report on Friday, March 13th. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Citigroup upped their price objective on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alcoa currently has an average rating of “Hold” and a consensus target price of $55.55.

Alcoa Stock Up 2.0%

Shares of NYSE AA traded up $1.40 during midday trading on Tuesday, reaching $72.41. The company’s stock had a trading volume of 1,997,042 shares, compared to its average volume of 7,634,597. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $73.38. The stock has a market capitalization of $19.11 billion, a price-to-earnings ratio of 16.40 and a beta of 1.70. The stock has a 50 day simple moving average of $61.77 and a 200-day simple moving average of $50.52.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. The company had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the company earned $1.04 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that Alcoa will post 4.43 earnings per share for the current year.

Institutional Investors Weigh In On Alcoa

A number of institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Alcoa by 4,124.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 38,233 shares of the industrial products company’s stock valued at $2,032,000 after purchasing an additional 37,328 shares during the last quarter. World Investment Advisors purchased a new position in shares of Alcoa in the 4th quarter worth $246,000. Corient Private Wealth LLC raised its position in shares of Alcoa by 30.4% in the 4th quarter. Corient Private Wealth LLC now owns 13,445 shares of the industrial products company’s stock worth $715,000 after buying an additional 3,138 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Alcoa by 5,281.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after buying an additional 581 shares during the period. Finally, Compound Planning Inc. purchased a new position in shares of Alcoa in the 4th quarter worth $306,000. 82.39% of the stock is owned by institutional investors and hedge funds.

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.