Alcoa (NYSE:AA) Price Target Cut to $47.00 by Analysts at UBS Group

Alcoa (NYSE:AA) had its price objective dropped by research analysts at UBS Group from $53.00 to $47.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. UBS Group’s price objective would indicate a potential upside of 45.15% from the company’s current price.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group reduced their price objective on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Bank of America upped their price objective on Alcoa to $58.00 and gave the company a “buy” rating in a research report on Friday, January 24th. HC Wainwright raised their price target on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. BMO Capital Markets boosted their price objective on shares of Alcoa to $43.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Finally, Morgan Stanley decreased their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alcoa presently has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Alcoa Price Performance

Alcoa stock traded down $0.96 during midday trading on Thursday, reaching $32.38. The company had a trading volume of 1,866,164 shares, compared to its average volume of 5,223,726. The firm’s fifty day simple moving average is $35.07 and its 200-day simple moving average is $38.09. Alcoa has a 12-month low of $27.12 and a 12-month high of $47.77. The company has a market capitalization of $8.38 billion, a P/E ratio of -202.69, a P/E/G ratio of 0.19 and a beta of 2.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86.

Alcoa (NYSE:AA) last posted its quarterly earnings data 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 anticipate that Alcoa will post 4.43 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP increased its position in Alcoa by 488.2% during the fourth quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company’s stock worth $30,320,000 after acquiring an additional 666,117 shares during the period. California State Teachers Retirement System increased its holdings in Alcoa by 5.8% in the 4th quarter. California State Teachers Retirement System now owns 240,870 shares of the industrial products company’s stock valued at $9,100,000 after buying an additional 13,137 shares during the period. 111 Capital bought a new stake in Alcoa in the fourth quarter valued at $493,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Alcoa by 14.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,467 shares of the industrial products company’s stock valued at $395,000 after buying an additional 1,337 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in Alcoa by 536.9% in the 4th quarter. Mackenzie Financial Corp now owns 645,140 shares of the industrial products company’s stock worth $24,373,000 after purchasing an additional 543,853 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

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.