UBS Group Reaffirms “Neutral” Rating for Alcoa (NYSE:AA)

Alcoa (NYSE:AA)‘s stock had its “neutral” rating reissued by analysts at UBS Group in a note issued to investors on Thursday,Benzinga reports. They currently have a $31.00 price objective on the industrial products company’s stock. UBS Group’s price target would suggest a potential upside of 5.37% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets raised their target price on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Bank of America reaffirmed an “underperform” rating and set a $26.00 target price (down previously from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. HC Wainwright increased their price target on Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Morgan Stanley dropped their price objective on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, StockNews.com upgraded Alcoa from a “hold” rating to a “buy” rating in a research note on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.08.

Alcoa Trading Up 2.7%

AA opened at $29.42 on Thursday. The firm has a market cap of $7.62 billion, a P/E ratio of -183.88, a P/E/G ratio of 0.19 and a beta of 2.29. Alcoa has a 12 month low of $21.53 and a 12 month high of $47.77. 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 50-day moving average of $27.90 and a 200 day moving average of $35.12.

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

Hedge Funds Weigh In On Alcoa

Several institutional investors and hedge funds have recently added to or reduced their stakes in AA. Wealth Enhancement Advisory Services LLC lifted its position in Alcoa by 3.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock valued at $365,000 after acquiring an additional 339 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of Alcoa during the 4th quarter valued at $203,000. Sendero Wealth Management LLC boosted its position in shares of Alcoa by 7.5% in the 4th quarter. Sendero Wealth Management LLC now owns 18,871 shares of the industrial products company’s stock worth $713,000 after purchasing an additional 1,320 shares in the last quarter. HB Wealth Management LLC purchased a new position in Alcoa during the 4th quarter worth $211,000. Finally, UMB Bank n.a. grew its stake in Alcoa by 78.5% during the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after buying an additional 598 shares during the last quarter. Hedge funds and other institutional investors 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.