Alcoa (NYSE:AA) Receives $48.25 Average Target Price from Brokerages

Alcoa (NYSE:AA) has been given a consensus rating of “Hold” by the thirteen ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $48.25.

A number of brokerages have issued reports on AA. Argus set a $45.00 price objective on shares of Alcoa in a research report on Thursday, October 30th. Morgan Stanley restated an “overweight” rating and issued a $52.00 target price on shares of Alcoa in a research note on Monday, December 15th. UBS Group increased their price target on Alcoa from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a report on Monday, December 29th. Finally, BMO Capital Markets boosted their price objective on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd.

Alcoa Trading Down 1.0%

NYSE AA opened at $59.92 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $56.88 and a 200 day simple moving average of $42.56. Alcoa has a 12 month low of $21.53 and a 12 month high of $66.95. The firm has a market capitalization of $15.52 billion, a P/E ratio of 13.56 and a beta of 1.91.

Alcoa (NYSE:AA) last posted its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.31. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $3.28 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.18%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 EPS. On average, analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Institutional Trading of Alcoa

Several hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in Alcoa by 455.9% in the third quarter. Pacer Advisors Inc. now owns 62,982 shares of the industrial products company’s stock valued at $2,071,000 after acquiring an additional 51,652 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Alcoa by 121.7% during the second quarter. Mackenzie Financial Corp now owns 1,569,358 shares of the industrial products company’s stock worth $46,312,000 after purchasing an additional 861,383 shares during the last quarter. Drummond Knight Asset Management Pty Ltd purchased a new position in shares of Alcoa in the 2nd quarter worth about $44,893,000. Nordea Investment Management AB boosted its holdings in shares of Alcoa by 190.8% in the 3rd quarter. Nordea Investment Management AB now owns 142,050 shares of the industrial products company’s stock worth $4,592,000 after purchasing an additional 93,204 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Alcoa during the 3rd quarter valued at about $1,144,000.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.