Morgan Stanley Has Lowered Expectations for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its price objective lowered by equities research analysts at Morgan Stanley from $55.00 to $51.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price target would suggest a potential upside of 48.64% from the company’s previous close.

AA has been the topic of a number of other reports. JPMorgan Chase & Co. increased their target price on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Jefferies Financial Group lowered their price objective on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. B. Riley raised shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Wednesday, October 23rd. Finally, StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.55.

Alcoa Stock Down 1.9 %

Alcoa stock traded down $0.66 during mid-day trading on Tuesday, reaching $34.31. 1,853,140 shares of the company’s stock were exchanged, compared to its average volume of 5,330,842. The company has a market cap of $8.86 billion, a P/E ratio of -214.94, a P/E/G ratio of 0.16 and a beta of 2.47. Alcoa has a twelve month low of $24.86 and a twelve month high of $47.77. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $40.15 and a 200-day moving average of $37.61.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.48%. Sell-side analysts expect that Alcoa will post 4.27 EPS for the current year.

Institutional Trading of Alcoa

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Retirement Systems of Alabama raised its position in Alcoa by 41.6% during the third quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock worth $12,107,000 after acquiring an additional 92,201 shares during the last quarter. ING Groep NV acquired a new position in Alcoa during the third quarter worth about $10,201,000. Douglas Lane & Associates LLC raised its position in Alcoa by 2.0% during the third quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock worth $54,859,000 after acquiring an additional 27,217 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Alcoa by 6.2% during 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 worth $24,233,000 after acquiring an additional 36,869 shares during the last quarter. Finally, Aigen Investment Management LP raised its position in Alcoa by 73.0% during the third quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock worth $1,422,000 after acquiring an additional 15,546 shares during the last quarter.

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.