1 day Ago By ABMN Staff
Alcoa ( NYSE:AA – Get Free Report ) ‘s stock had its “neutral” rating reaffirmed by investment analysts at B. Riley Financial in a research note issued on Tuesday, Stock Target Advisor reports. They currently have a $41.
00 target price on the industrial products company’s stock. B. Riley Financial’s price objective points to a potential upside of 19.
26% from the company’s current price. Several other analysts have also weighed in on AA. Citigroup raised their price objective on shares of Alcoa from $32.
00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. UBS Group raised shares of Alcoa from a “sell” rating to a “buy” rating and raised their price target for the company from $32.
00 to $38.00 in a report on Monday, August 12th. Morgan Stanley lowered their price target on shares of Alcoa from $50.
00 to $48.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Wolfe Research raised shares of 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. Finally, B. Riley raised their price target on shares of Alcoa from $37.
00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock.
Based on data from MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and a consensus price target of $40.27.
Check Out Our Latest Stock Analysis on Alcoa Alcoa Stock Up 1.2 % Alcoa ( NYSE:AA – Get Free Report ) last posted its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.
16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05.
The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion.
Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%.
The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.
35) earnings per share. Equities analysts predict that Alcoa will post 0.7 EPS for the current fiscal year.
Hedge Funds Weigh In On Alcoa Several hedge funds have recently added to or reduced their stakes in AA. ANTIPODES PARTNERS Ltd acquired a new position in Alcoa in the second quarter valued at about $93,061,000. L1 Capital Pty Ltd acquired a new position in Alcoa in the first quarter valued at about $72,658,000.
Norges Bank acquired a new stake in shares of Alcoa during the fourth quarter worth about $45,730,000. Marshall Wace LLP raised its position in shares of Alcoa by 770.9% during the second quarter.
Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock worth $56,599,000 after purchasing an additional 1,259,430 shares during the period. Finally, ARGA Investment Management LP raised its position in shares of Alcoa by 202.2% during the first quarter.
ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after purchasing an additional 997,912 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.
About Alcoa ( Get Free Report ) 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.
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