Jefferies Financial Group Lowers Alcoa (NYSE:AA) Price Target to $45.00

Alcoa (NYSE:AA) had its price objective cut by stock analysts at Jefferies Financial Group from $50.00 to $45.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 24.41% from the stock’s previous close.

AA has been the topic of several other reports. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. BMO Capital Markets upped their price objective on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Wednesday, October 23rd. Bank of America increased their price objective on Alcoa to $58.00 and gave the stock a “buy” rating in a report on Thursday, November 28th. Finally, JPMorgan Chase & Co. boosted their target price on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.45.

Alcoa Trading Down 0.9 %

Shares of NYSE:AA opened at $36.17 on Monday. The company has a 50 day moving average of $41.56 and a 200-day moving average of $37.90. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The firm has a market cap of $9.34 billion, a P/E ratio of -20.55, a P/E/G ratio of 0.79 and a beta of 2.47. Alcoa has a twelve month low of $24.86 and a twelve month high of $47.77.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.34. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter last year, the business posted ($1.14) earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, analysts anticipate that Alcoa will post 0.9 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the transaction, the executive vice president now owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On Alcoa

Several large investors have recently bought and sold shares of the stock. Mountaineer Partners Management LLC increased its holdings in shares of 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 purchasing an additional 10,534,036 shares during the period. State Street Corp increased its stake in Alcoa by 23.3% during the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after acquiring an additional 1,805,915 shares during the period. Dimensional Fund Advisors LP raised its holdings in Alcoa by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock valued at $265,132,000 after acquiring an additional 390,930 shares in the last quarter. Geode Capital Management LLC raised its holdings 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, ARGA Investment Management LP lifted its position in shares of Alcoa by 1.5% in the 3rd quarter. ARGA Investment Management LP now owns 2,313,806 shares of the industrial products company’s stock worth $89,267,000 after acquiring an additional 34,878 shares during the period. 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.