HC Wainwright Issues Positive Forecast for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its target price increased by investment analysts at HC Wainwright to $90.00 in a research note issued on Tuesday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. HC Wainwright’s price objective indicates a potential upside of 170.47% from the company’s current price.

Several other analysts also recently commented on AA. Morgan Stanley reduced their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. BMO Capital Markets raised their target price on Alcoa to $43.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Bank of America raised their target price on Alcoa to $58.00 and gave the company a “buy” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. raised their target price on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, Jefferies Financial Group reduced their target price on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.17.

Alcoa Stock Performance

Shares of Alcoa stock opened at $33.28 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $35.59 and a two-hundred day moving average price of $37.94. Alcoa has a 1-year low of $27.12 and a 1-year high of $47.77. The company has a market cap of $8.61 billion, a P/E ratio of -207.97, a PEG ratio of 0.19 and a beta of 2.55.

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

Hedge Funds Weigh In On Alcoa

Several hedge funds have recently modified their holdings of AA. Retirement Systems of Alabama increased its stake in shares of Alcoa by 41.6% during the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock worth $12,107,000 after purchasing an additional 92,201 shares during the last quarter. ING Groep NV purchased a new stake in shares of Alcoa during the 3rd quarter worth approximately $10,201,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Alcoa by 6.2% during the 3rd 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 purchasing an additional 36,869 shares during the last quarter. Aigen Investment Management LP increased its stake in shares of Alcoa by 73.0% during the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock worth $1,422,000 after purchasing an additional 15,546 shares during the last quarter. Finally, Mountaineer Partners Management LLC increased its stake in shares of Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after purchasing an additional 10,534,036 shares during the last quarter. 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.