Alcoa (NYSE:AA) Price Target Increased to $32.00 by Analysts at UBS Group

Alcoa (NYSE:AA) had its price target raised by analysts at UBS Group from $27.00 to $32.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the industrial products company’s stock. UBS Group’s price objective indicates a potential downside of 9.81% from the stock’s current price.

A number of other research firms have also issued reports on AA. Jefferies Financial Group boosted their price objective on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday. BMO Capital Markets boosted their price target on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Bank of America boosted their price target on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Finally, StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.96.

Alcoa Stock Down 0.2 %

Shares of NYSE AA opened at $35.48 on Friday. Alcoa has a twelve month low of $23.07 and a twelve month high of $42.23. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30. The business has a 50 day simple moving average of $30.97 and a 200-day simple moving average of $29.02.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.30%. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the firm earned ($0.23) EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts expect that Alcoa will post 0.33 EPS for the current year.

Insider Transactions at Alcoa

In other news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the sale, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. State Street Corp raised its position in Alcoa by 3.4% during the first quarter. State Street Corp now owns 8,273,477 shares of the industrial products company’s stock valued at $352,119,000 after buying an additional 271,387 shares during the period. Morgan Stanley grew its stake in Alcoa by 24.9% in the third quarter. Morgan Stanley now owns 5,941,667 shares of the industrial products company’s stock valued at $172,665,000 after purchasing an additional 1,185,323 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Alcoa by 4,737.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,578,275 shares of the industrial products company’s stock valued at $208,174,000 after purchasing an additional 4,483,625 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Alcoa by 34.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,312,340 shares of the industrial products company’s stock valued at $146,626,000 after purchasing an additional 1,104,423 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Alcoa in the first quarter valued at about $318,670,000.

Alcoa Company Profile

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.