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

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

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

Alcoa Stock Down 0.2 %

NYSE:AA opened at $35.48 on Friday. Alcoa has a 12 month low of $23.07 and a 12 month high of $42.23. The firm has a fifty day simple moving average of $30.97 and a 200-day simple moving average of $29.02. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30.

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

Insider Buying and Selling at Alcoa

In other news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total transaction of $814,685.04. Following the transaction, the executive vice president now owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On Alcoa

A number of hedge funds have recently modified their holdings of the business. Raymond James & Associates raised its holdings in Alcoa by 3,731.1% in the 4th quarter. Raymond James & Associates now owns 799,705 shares of the industrial products company’s stock valued at $27,190,000 after buying an additional 778,831 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Alcoa by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,234,472 shares of the industrial products company’s stock valued at $35,874,000 after buying an additional 54,876 shares during the period. Nordea Investment Management AB raised its holdings in Alcoa by 132.2% in the 4th quarter. Nordea Investment Management AB now owns 112,082 shares of the industrial products company’s stock valued at $3,824,000 after buying an additional 63,816 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new stake in Alcoa in the 4th quarter valued at about $227,000. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Alcoa by 90.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 61,801 shares of the industrial products company’s stock valued at $1,796,000 after buying an additional 29,431 shares during the period.

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.