Bank of America Issues Positive Forecast for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its target price increased by Bank of America to $58.00 in a research note issued to investors on Friday morning,Stock Target Advisor reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities analysts also recently issued reports on AA. Morgan Stanley upped their price objective on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Jefferies Financial Group reduced their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group upped their target price on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the company from $41.00 to $50.00 in a report on Thursday, October 17th. Finally, BMO Capital Markets upped their target price on shares of Alcoa to $43.00 and gave the company a “hold” rating in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.36.

Alcoa Stock Performance

NYSE AA opened at $37.33 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. Alcoa has a 1 year low of $24.86 and a 1 year high of $47.77. The company has a market capitalization of $9.64 billion, a PE ratio of -233.28, a P/E/G ratio of 0.16 and a beta of 2.47. The company has a fifty day moving average of $40.33 and a two-hundred day moving average of $37.66.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in Alcoa during the second quarter worth about $27,000. UMB Bank n.a. grew its position in Alcoa by 481.7% during the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after buying an additional 631 shares during the period. Quarry LP acquired a new position in Alcoa during the third quarter worth about $43,000. Continuum Advisory LLC grew its position in Alcoa by 1,945.5% during the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock worth $46,000 after buying an additional 1,070 shares during the period. Finally, GAMMA Investing LLC grew its position in Alcoa by 399.0% during the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock worth $55,000 after buying an additional 1,157 shares during the period.

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.