UBS Group Forecasts Strong Price Appreciation for Alcoa (NYSE:AA) Stock

Alcoa (NYSE:AA) had its target price increased by stock analysts at UBS Group from $48.00 to $70.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price objective would suggest a potential upside of 6.18% from the company’s previous close.

AA has been the topic of several other research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $52.00 price target on shares of Alcoa in a report on Monday, December 15th. Wells Fargo & Company set a $68.00 price target on Alcoa in a research report on Thursday. Citigroup upped their price objective on Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, December 19th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $50.00 price objective (up from $45.00) on shares of Alcoa in a research note on Thursday, January 8th. Finally, Wall Street Zen raised shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.82.

Alcoa Price Performance

AA traded down $0.44 during trading on Thursday, reaching $65.93. 8,006,089 shares of the stock were exchanged, compared to its average volume of 8,071,264. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 0.87. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 14.92 and a beta of 1.85. Alcoa has a 1 year low of $21.53 and a 1 year high of $68.40. The business’s 50 day moving average price is $61.14 and its two-hundred day moving average price is $46.43.

Alcoa (NYSE:AA) last released its quarterly 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 business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $3.28 billion. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.04 EPS. As a group, equities research analysts anticipate that Alcoa will post 4.43 earnings per share for the current year.

Hedge Funds Weigh In On Alcoa

Large investors have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC boosted its stake in Alcoa by 1.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock worth $568,000 after buying an additional 204 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in Alcoa by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock valued at $3,079,000 after buying an additional 229 shares during the period. CoreCap Advisors LLC increased its stake in shares of Alcoa by 74.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 237 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Alcoa by 1.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after acquiring an additional 241 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Alcoa by 1.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 22,497 shares of the industrial products company’s stock worth $740,000 after acquiring an additional 324 shares during the period.

Alcoa Company Profile

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.