Alcoa (NYSE:AA) Stock Price Expected to Rise, Bank of America Analyst Says

Alcoa (NYSE:AA) had its price target upped by Bank of America from $26.00 to $27.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “underperform” rating on the industrial products company’s stock. Bank of America‘s price target would suggest a potential downside of 10.86% from the company’s current price.

AA has been the subject of several other reports. Citigroup upgraded shares of Alcoa to a “buy” rating and set a $42.00 target price for the company in a research note on Tuesday, July 8th. Barclays lifted their price objective on shares of Alcoa to $31.00 and gave the stock a “hold” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. lifted their price objective on shares of Alcoa from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 18th. UBS Group reiterated a “neutral” rating and set a $31.00 price objective on shares of Alcoa in a research note on Thursday, May 15th. Finally, B. Riley lowered their price objective on shares of Alcoa from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.23.

Alcoa Stock Performance

Shares of AA stock opened at $30.29 on Thursday. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 7.91, a PEG ratio of 0.18 and a beta of 2.25. The company’s 50 day moving average is $28.94 and its 200 day moving average is $30.87. The company has a quick ratio of 1.00, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.96 billion. Alcoa had a net margin of 7.86% and a return on equity of 19.27%. Alcoa’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share. On average, sell-side analysts anticipate that Alcoa will post 4.43 EPS for the current fiscal year.

Institutional Trading of Alcoa

A number of institutional investors and hedge funds have recently modified their holdings of AA. Bessemer Group Inc. grew its stake in Alcoa by 77.1% during the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 296 shares in the last quarter. Versant Capital Management Inc grew its stake in Alcoa by 134.7% during the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 520 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Alcoa during the 4th quarter valued at about $36,000. Montag A & Associates Inc. purchased a new stake in Alcoa during the 1st quarter valued at about $40,000. Finally, Continuum Advisory LLC grew its stake in Alcoa by 30.7% during the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 345 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.