Jefferies Financial Group Cuts Alcoa (NYSE:AA) Price Target to $45.00

Alcoa (NYSE:AA) had its target price lowered by equities research analysts at Jefferies Financial Group from $50.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 24.41% from the stock’s current price.

A number of other analysts have also weighed in on AA. B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and raised their target price for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. Bank of America boosted their target price on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 28th. UBS Group increased their price target on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Morgan Stanley boosted their price objective on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. increased their price objective on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.45.

Alcoa Stock Down 0.9 %

NYSE AA opened at $36.17 on Monday. Alcoa has a 1-year low of $24.86 and a 1-year high of $47.77. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average is $41.56 and its two-hundred day moving average is $37.90. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of -20.55, a PEG ratio of 0.79 and a beta of 2.47.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.34. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the firm earned ($1.14) EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts forecast that Alcoa will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the sale, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This represents a 29.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC bought a new position in shares of Alcoa during the 2nd quarter valued at about $787,000. Arizona State Retirement System lifted its stake in Alcoa by 2.5% in the second quarter. Arizona State Retirement System now owns 50,268 shares of the industrial products company’s stock valued at $2,000,000 after buying an additional 1,220 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Alcoa by 407.8% in the second quarter. Los Angeles Capital Management LLC now owns 31,629 shares of the industrial products company’s stock valued at $1,258,000 after buying an additional 25,400 shares during the period. Choreo LLC increased its position in shares of Alcoa by 18.9% during the second quarter. Choreo LLC now owns 28,922 shares of the industrial products company’s stock worth $1,148,000 after acquiring an additional 4,605 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Alcoa by 5.1% during the second quarter. Texas Permanent School Fund Corp now owns 164,232 shares of the industrial products company’s stock worth $6,533,000 after acquiring an additional 8,035 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

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.