UBS Group Raises Alcoa (NYSE:AA) Price Target to $50.00

Alcoa (NYSE:AA - Get Free Report) had its price objective upped by equities research analysts at UBS Group from $40.00 to $50.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. UBS Group's price target would indicate a potential upside of 21.04% from the company's current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. began coverage on Alcoa in a research note on Wednesday, September 25th. They set a "neutral" rating and a $36.00 price objective for the company. B. Riley increased their price target on Alcoa from $37.00 to $41.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 17th. Bank of America upgraded Alcoa from a "neutral" rating to a "buy" rating and increased their price target for the stock from $43.00 to $52.00 in a research report on Tuesday, October 1st. Morgan Stanley decreased their target price on Alcoa from $50.00 to $48.00 and set an "overweight" rating on the stock in a research report on Monday, July 22nd. Finally, Wolfe Research raised Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 price target for the company in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $42.55.

Alcoa Stock Performance

Shares of AA stock traded down $0.49 during trading hours on Tuesday, reaching $41.31. 4,560,480 shares of the company traded hands, compared to its average volume of 5,963,469. Alcoa has a 12-month low of $23.07 and a 12-month high of $45.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The company has a market cap of $7.42 billion, a P/E ratio of -10.99 and a beta of 2.42. The firm has a 50-day moving average price of $34.29 and a 200 day moving average price of $36.67.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the company posted ($0.35) EPS. The company's revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts predict that Alcoa will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alcoa

Institutional investors and hedge funds have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new position in Alcoa in the second quarter valued at about $27,000. UMB Bank n.a. grew its stake in Alcoa by 481.7% in the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company's stock worth $29,000 after purchasing an additional 631 shares in the last quarter. Toronto Dominion Bank grew its stake in Alcoa by 1,501.9% in the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company's stock worth $57,000 after purchasing an additional 1,592 shares in the last quarter. Fifth Third Bancorp grew its stake in Alcoa by 15.1% in the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company's stock worth $94,000 after purchasing an additional 309 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Alcoa in the first quarter worth about $101,000. Hedge funds and other institutional investors 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.