Alcoa (NYSE:AA) PT Raised to $49.00 at Morgan Stanley

Alcoa (NYSE:AA) had its price target increased by investment analysts at Morgan Stanley from $48.00 to $49.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price target points to a potential upside of 17.48% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. UBS Group lifted their price target on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a report on Thursday. BMO Capital Markets raised their price objective on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Bank of America upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $43.00 to $52.00 in a report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.45.

Alcoa Stock Performance

Shares of AA stock opened at $41.71 on Friday. Alcoa has a 1 year low of $23.07 and a 1 year high of $45.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The stock has a fifty day moving average price of $34.96 and a 200 day moving average price of $36.80. The stock has a market cap of $7.49 billion, a PE ratio of -11.09 and a beta of 2.42.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.14) earnings per share. Sell-side analysts forecast that Alcoa will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alcoa

A number of large investors have recently modified their holdings of AA. Newbridge Financial Services Group Inc. acquired a new position in Alcoa in the 2nd quarter worth $27,000. UMB Bank n.a. boosted its holdings in Alcoa by 481.7% in the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 631 shares during the last quarter. Toronto Dominion Bank grew its stake in Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,592 shares in the last quarter. Fifth Third Bancorp increased its holdings in Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 309 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Alcoa in the 1st quarter valued at approximately $101,000. Institutional investors and hedge funds 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.