Alcoa (NYSE:AA) Given New $45.00 Price Target at Jefferies Financial Group

Alcoa (NYSE:AA - Get Free Report) had its price target dropped by analysts at Jefferies Financial Group from $50.00 to $45.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Jefferies Financial Group's price objective indicates a potential upside of 23.39% from the company's previous close.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Alcoa from $36.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. B. Riley raised shares of Alcoa from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. StockNews.com upgraded Alcoa from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. Morgan Stanley raised their price objective on shares of Alcoa from $48.00 to $49.00 and gave the stock an "overweight" rating in a report on Friday, October 18th. Finally, BMO Capital Markets upped their target price on shares of Alcoa from $42.00 to $45.00 and gave the company a "market perform" rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Alcoa currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.45.

Alcoa Stock Up 2.1 %

AA traded up $0.76 during trading hours on Monday, hitting $36.47. 5,972,482 shares of the company's stock were exchanged, compared to its average volume of 5,389,242. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. Alcoa has a 12-month low of $24.86 and a 12-month high of $47.77. The firm has a market cap of $9.42 billion, a P/E ratio of -20.72, a price-to-earnings-growth ratio of 0.79 and a beta of 2.47. The firm has a 50 day moving average of $41.66 and a 200 day moving average of $37.93.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.34. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The business had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.97 billion. During the same period last year, the firm earned ($1.14) earnings per share. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts predict that Alcoa will post 0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Alcoa

A number of institutional investors have recently added to or reduced their stakes in AA. Retirement Systems of Alabama boosted its stake in shares of Alcoa by 41.6% in the third quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company's stock valued at $12,107,000 after buying an additional 92,201 shares in the last quarter. ING Groep NV acquired a new position in shares of Alcoa during the 3rd quarter worth $10,201,000. Douglas Lane & Associates LLC increased its holdings in shares of Alcoa by 2.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company's stock valued at $54,859,000 after purchasing an additional 27,217 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Alcoa by 6.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company's stock valued at $24,233,000 after purchasing an additional 36,869 shares during the period. Finally, Aigen Investment Management LP lifted its stake in shares of Alcoa by 73.0% in the third quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company's stock valued at $1,422,000 after purchasing an additional 15,546 shares during the period. 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.