Analysts Set Alcoa Co. (NYSE:AA) Price Target at $46.55

Shares of Alcoa Co. (NYSE:AA) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $46.55.

AA has been the topic of several recent analyst reports. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, October 23rd. BMO Capital Markets raised their price target on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a report on Friday, January 17th. JPMorgan Chase & Co. upped their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, UBS Group increased their target price on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th.

Hedge Funds Weigh In On Alcoa

Several hedge funds have recently bought and sold shares of the business. Mountaineer Partners Management LLC lifted its position in shares of Alcoa by 4,023.0% in the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after buying an additional 10,534,036 shares during the last quarter. State Street Corp lifted its holdings in Alcoa by 23.3% in the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock worth $368,965,000 after purchasing an additional 1,805,915 shares during the last quarter. Paloma Partners Management Co boosted its position in Alcoa by 11,317.8% during the third quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock worth $55,084,000 after purchasing an additional 1,415,294 shares during the period. Geode Capital Management LLC grew its holdings in Alcoa by 42.0% during the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after purchasing an additional 1,239,479 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. bought a new position in shares of Alcoa in the third quarter valued at approximately $36,165,000. 82.39% of the stock is owned by institutional investors and hedge funds.

Alcoa Stock Performance

Alcoa stock opened at $36.12 on Monday. Alcoa has a fifty-two week low of $24.86 and a fifty-two week high of $47.77. The firm’s 50 day simple moving average is $38.20 and its 200-day simple moving average is $37.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The company has a market cap of $9.33 billion, a P/E ratio of -225.77, a price-to-earnings-growth ratio of 0.20 and a beta of 2.43.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, equities research analysts predict that Alcoa will post 4.43 EPS for the current year.

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.