Alcoa (NYSE:AA) had its price objective decreased by Credit Suisse Group from $58.00 to $50.00 in a research report released on Friday morning. Credit Suisse Group currently has an outperform rating on the industrial products company’s stock.

Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Alcoa from a strong-buy rating to a hold rating in a research report on Thursday, October 4th. Berenberg Bank assumed coverage on shares of Alcoa in a research report on Friday, September 21st. They issued a buy rating and a $54.00 price objective on the stock. ValuEngine downgraded shares of Alcoa from a hold rating to a sell rating in a research note on Thursday, September 6th. B. Riley raised shares of Alcoa from a neutral rating to a buy rating and boosted their target price for the company from $48.00 to $50.00 in a research note on Wednesday, September 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alcoa to $79.00 and gave the company an overweight rating in a research note on Thursday, October 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $59.53.

NYSE:AA traded down $0.83 during mid-day trading on Friday, hitting $28.82. The stock had a trading volume of 3,381,900 shares, compared to its average volume of 3,222,116. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 2.00 and a beta of 0.69. Alcoa has a twelve month low of $28.12 and a twelve month high of $62.35. The company has a quick ratio of 0.84, a current ratio of 1.40 and a debt-to-equity ratio of 0.25.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.27. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Alcoa had a negative net margin of 0.09% and a positive return on equity of 10.38%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned $0.72 earnings per share. On average, equities analysts anticipate that Alcoa will post 3.67 EPS for the current year.

Alcoa declared that its board has approved a share buyback plan on Wednesday, October 17th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in shares of Alcoa during the 2nd quarter worth about $105,000. Quad Cities Investment Group LLC purchased a new stake in shares of Alcoa during the 2nd quarter worth about $112,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Alcoa by 104.6% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 3,931 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 2,010 shares during the period. Point72 Hong Kong Ltd grew its holdings in shares of Alcoa by 414.8% during the 3rd quarter. Point72 Hong Kong Ltd now owns 5,112 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 4,119 shares during the period. Finally, Bank of Nova Scotia purchased a new stake in shares of Alcoa during the 2nd quarter worth about $230,000.

Alcoa Company Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.

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Analyst Recommendations for Alcoa (NYSE:AA)

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