Alcoa (NYSE:AA) Price Target Raised to $90.00

Alcoa (NYSE:AA) had its target price upped by investment analysts at HC Wainwright to $90.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. The firm presently has a “buy” rating on the industrial products company’s stock. HC Wainwright’s price target would suggest a potential upside of 182.17% from the company’s current price.

AA has been the subject of several other research reports. JPMorgan Chase & Co. raised their price target on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. BMO Capital Markets raised their target price on shares of Alcoa to $43.00 and gave the company a “hold” rating in a report on Friday, January 17th. Morgan Stanley reduced their price target 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. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group reduced their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alcoa currently has a consensus rating of “Moderate Buy” and an average price target of $50.17.

Alcoa Price Performance

AA stock traded up $0.92 during midday trading on Tuesday, hitting $31.90. The company’s stock had a trading volume of 3,156,830 shares, compared to its average volume of 5,309,631. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of -199.35, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. Alcoa has a 12 month low of $27.12 and a 12 month high of $47.77. The company has a 50 day moving average of $35.80 and a two-hundred day moving average of $37.98.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. On average, analysts expect that Alcoa will post 4.43 EPS for the current year.

Hedge Funds Weigh In On Alcoa

Large investors have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its position in shares of Alcoa by 536.9% during the fourth 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. Forum Financial Management LP purchased a new position in Alcoa in the 4th quarter worth about $291,000. Public Employees Retirement System of Ohio bought a new stake in Alcoa during the 4th quarter valued at about $3,202,000. Focus Partners Advisor Solutions LLC purchased a new stake in Alcoa in the 4th quarter valued at about $426,000. Finally, Continuum Advisory LLC grew its stake in Alcoa by 30.7% in the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 345 shares in the last quarter. 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.