UBS Group Has Lowered Expectations for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its target price reduced by analysts at UBS Group from $53.00 to $47.00 in a research note issued on Thursday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. UBS Group’s price objective points to a potential upside of 53.68% from the company’s current price.

Several other equities analysts have also issued reports on AA. HC Wainwright boosted their price target on Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. JPMorgan Chase & Co. upped their target price on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Morgan Stanley decreased their price target on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Bank of America boosted their price target on shares of Alcoa to $58.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, B. Riley raised shares of Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.92.

Alcoa Stock Down 4.4 %

Shares of AA stock opened at $30.58 on Thursday. Alcoa has a 12 month low of $27.12 and a 12 month high of $47.77. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The firm has a market cap of $7.92 billion, a PE ratio of -191.15, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. The stock has a 50 day moving average of $34.75 and a 200-day moving average of $38.06.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. On average, equities analysts predict that Alcoa will post 4.43 EPS for the current year.

Hedge Funds Weigh In On Alcoa

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Retirement Systems of Alabama grew its holdings in shares of Alcoa by 41.6% during the third quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock worth $12,107,000 after purchasing an additional 92,201 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Alcoa by 6.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company’s stock worth $24,233,000 after buying an additional 36,869 shares in the last quarter. Mountaineer Partners Management LLC grew its holdings in Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after acquiring an additional 10,534,036 shares during the last quarter. Geode Capital Management LLC increased its position in Alcoa by 42.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after acquiring an additional 1,239,479 shares in the last quarter. Finally, Impala Asset Management LLC bought a new position in shares of Alcoa in the third quarter worth about $6,366,000. 82.39% of the stock is currently owned by institutional investors and hedge funds.

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.