Alcoa (NYSE:AA) Earns Neutral Rating from B. Riley Financial

Alcoa (NYSE:AA)‘s stock had its “neutral” rating reissued by investment analysts at B. Riley Financial in a report issued on Tuesday, Stock Target Advisor reports. They currently have a $41.00 target price on the industrial products company’s stock. B. Riley Financial’s target price suggests a potential upside of 20.62% from the stock’s previous close.

A number of other research firms have also recently commented on AA. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley dropped their price objective on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. B. Riley boosted their target price on shares of Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group upgraded shares of Alcoa from a “sell” rating to a “buy” rating and increased their price target for the stock from $32.00 to $38.00 in a research report on Monday, August 12th. Finally, Bank of America cut their price objective on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Alcoa presently has an average rating of “Hold” and an average price target of $40.27.

Alcoa Stock Down 1.5 %

AA stock traded down $0.51 during midday trading on Tuesday, hitting $33.99. The stock had a trading volume of 1,312,212 shares, compared to its average volume of 5,996,067. The business has a 50-day moving average of $32.90 and a two-hundred day moving average of $35.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -9.00 and a beta of 2.42. Alcoa has a 52-week low of $23.07 and a 52-week high of $45.48.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the firm earned ($0.35) EPS. Alcoa’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Alcoa will post 0.7 earnings per share for the current fiscal year.

Institutional Trading of Alcoa

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ANTIPODES PARTNERS Ltd purchased a new stake in Alcoa during the 2nd quarter valued at approximately $93,061,000. L1 Capital Pty Ltd bought a new stake in Alcoa in the 1st quarter valued at $72,658,000. Norges Bank bought a new position in shares of Alcoa during the 4th quarter valued at about $45,730,000. Marshall Wace LLP grew its position in shares of Alcoa by 770.9% during the second quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock valued at $56,599,000 after purchasing an additional 1,259,430 shares in the last quarter. Finally, ARGA Investment Management LP increased its holdings in shares of Alcoa by 202.2% in the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after purchasing an additional 997,912 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

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.