B. Riley Lowers Alcoa (NYSE:AA) Price Target to $43.00

Alcoa (NYSE:AA) had its price objective cut by stock analysts at B. Riley from $44.00 to $43.00 in a research report issued to clients and investors on Thursday. The firm presently has a “buy” rating on the industrial products company’s stock. B. Riley’s target price would suggest a potential upside of 84.23% from the company’s previous close. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M

AA has been the subject of several other reports. Morgan Stanley dropped their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. HC Wainwright raised their price objective on Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Jefferies Financial Group decreased their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets lifted their price objective on Alcoa to $43.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Finally, Bank of America reissued an “underperform” rating and set a $26.00 target price (down from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.17.

Alcoa Stock Down 6.9 %

Shares of NYSE AA traded down $1.73 during mid-day trading on Thursday, reaching $23.34. 8,971,141 shares of the company were exchanged, compared to its average volume of 5,458,895. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -145.19, a P/E/G ratio of 0.19 and a beta of 2.28. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average of $31.61 and a 200 day moving average of $37.17.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.42. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.58 billion. On average, research analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Institutional Investors Weigh In On Alcoa

Several institutional investors have recently bought and sold shares of AA. Vanguard Group Inc. boosted its holdings in Alcoa by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company’s stock worth $981,491,000 after buying an additional 165,420 shares in the last quarter. Norges Bank purchased a new position in Alcoa in the fourth quarter valued at about $259,273,000. Geode Capital Management LLC increased its holdings in Alcoa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company’s stock worth $159,966,000 after buying an additional 39,022 shares during the last quarter. ARGA Investment Management LP raised its holdings in shares of Alcoa by 29.6% during the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock valued at $113,276,000 after purchasing an additional 684,505 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Alcoa by 8.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,550,861 shares of the industrial products company’s stock worth $96,372,000 after buying an additional 192,078 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

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.