Alcoa (NYSE:AA) Price Target Increased to $31.00 by Analysts at B. Riley

Alcoa (NYSE:AA) had its target price hoisted by equities researchers at B. Riley from $25.00 to $31.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. B. Riley’s price target would indicate a potential downside of 12.36% from the company’s previous close.

Several other research analysts have also weighed in on AA. UBS Group initiated coverage on Alcoa in a research report on Tuesday, January 16th. They issued a “sell” rating and a $29.00 target price on the stock. BMO Capital Markets upped their target price on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday. Jefferies Financial Group upped their target price on Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, Bank of America upped their target price on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $32.71.

Alcoa Price Performance

Shares of Alcoa stock traded down $0.18 during trading on Thursday, hitting $35.37. The stock had a trading volume of 7,548,177 shares, compared to its average volume of 6,377,991. Alcoa has a fifty-two week low of $23.07 and a fifty-two week high of $42.23. The firm has a market cap of $6.35 billion, a P/E ratio of -9.69, a PEG ratio of 2.32 and a beta of 2.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.45 and a quick ratio of 0.74. The business has a fifty day moving average of $30.81 and a two-hundred day moving average of $28.97.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative return on equity of 6.56% and a negative net margin of 6.17%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.23) earnings per share. On average, sell-side analysts expect that Alcoa will post 0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the sale, the executive vice president now owns 41,166 shares in the company, valued at approximately $1,267,089.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Alcoa

Several institutional investors have recently bought and sold shares of AA. Neo Ivy Capital Management bought a new position in Alcoa in the 2nd quarter valued at $27,000. Fairfield Bush & CO. acquired a new stake in shares of Alcoa in the 1st quarter valued at $29,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Alcoa in the 4th quarter valued at $31,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Alcoa in the 4th quarter valued at $32,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Alcoa in the 4th quarter valued at $33,000.

About Alcoa

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.