Alcoa (NYSE:AA) Price Target Raised to $70.00

Alcoa (NYSE:AA) had its price objective increased by stock analysts at UBS Group from $48.00 to $70.00 in a report issued 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.

A number of other equities analysts have also recently commented on AA. Citigroup lifted their target price on shares of Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a report on Friday, December 19th. Wall Street Zen raised shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Weiss Ratings restated a “hold (c)” rating on shares of Alcoa in a research note on Monday, December 29th. Zacks Research cut shares of Alcoa from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $52.00 target price on shares of Alcoa in a research note on Monday, December 15th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.82.

Alcoa Stock Performance

Shares of NYSE AA traded down $0.44 during trading hours on Thursday, reaching $65.93. The stock had a trading volume of 8,006,089 shares, compared to its average volume of 8,071,264. The firm has a 50-day moving average of $61.14 and a 200-day moving average of $46.43. The firm has a market cap of $17.39 billion, a price-to-earnings ratio of 14.92 and a beta of 1.85. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $68.40.

Alcoa (NYSE:AA) last released its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.95 by $0.31. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $3.28 billion. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 earnings per share. Equities research analysts predict that Alcoa will post 4.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AA. Prime Capital Investment Advisors LLC lifted its holdings in Alcoa by 1.9% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock valued at $568,000 after acquiring an additional 204 shares during the period. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of 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 purchasing an additional 229 shares in the last quarter. CoreCap Advisors LLC lifted its stake in shares of Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 237 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Alcoa by 1.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after buying an additional 241 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in Alcoa by 1.5% during the third quarter. Quadrant Capital Group LLC now owns 22,497 shares of the industrial products company’s stock worth $740,000 after buying 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.