Alcoa Co. (NYSE:AA) Short Interest Update

Alcoa Co. (NYSE:AA) saw a significant decrease in short interest in January. As of January 31st, there was short interest totalling 8,500,000 shares, a decrease of 6.5% from the January 15th total of 9,090,000 shares. Based on an average daily volume of 4,790,000 shares, the short-interest ratio is currently 1.8 days.

Alcoa Price Performance

NYSE:AA traded up $0.28 during mid-day trading on Tuesday, hitting $36.52. The company’s stock had a trading volume of 559,031 shares, compared to its average volume of 5,027,888. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average of $37.22 and a 200-day moving average of $37.72. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of -228.15, a P/E/G ratio of 0.20 and a beta of 2.43. Alcoa has a fifty-two week low of $24.86 and a fifty-two week high of $47.77.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. As a group, equities analysts forecast that Alcoa will post 4.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on AA. JPMorgan Chase & Co. upped their price target on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. BMO Capital Markets boosted their price objective on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Jefferies Financial Group lowered their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Bank of America raised their price target on Alcoa to $58.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.55.

Institutional Trading of Alcoa

Hedge funds have recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in Alcoa by 77.1% during the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 296 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Alcoa in the 4th quarter worth approximately $29,000. Point72 Hong Kong Ltd acquired a new position in Alcoa during the 4th quarter worth $36,000. Smartleaf Asset Management LLC increased its stake in shares of Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after buying an additional 393 shares during the period. Finally, Quarry LP bought a new stake in shares of Alcoa during the third quarter worth $43,000.

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.