Morgan Stanley Issues Pessimistic Forecast for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its target price cut by equities research analysts at Morgan Stanley from $55.00 to $51.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price objective points to a potential upside of 45.30% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. UBS Group raised their price target on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. BMO Capital Markets boosted their price objective on shares of Alcoa to $43.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Finally, Bank of America raised their price target on Alcoa to $58.00 and gave the company a “buy” rating in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Alcoa has a consensus rating of “Moderate Buy” and a consensus target price of $46.55.

Alcoa Trading Up 2.8 %

Alcoa stock opened at $35.10 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $39.71 and its two-hundred day simple moving average is $37.56. Alcoa has a 12 month low of $24.86 and a 12 month high of $47.77. The firm has a market cap of $9.07 billion, a PE ratio of -219.38, a P/E/G ratio of 0.16 and a beta of 2.47.

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

Institutional Investors Weigh In On Alcoa

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of Alcoa in the 2nd quarter valued at approximately $27,000. UMB Bank n.a. raised its holdings in Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 631 shares during the period. Quarry LP bought a new position in shares of Alcoa during the third quarter worth approximately $43,000. Continuum Advisory LLC lifted its holdings in shares of 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in Alcoa by 399.0% in the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 1,157 shares in the last quarter.

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.