Alcoa (NYSE:AA) Stock Price Up 7.3% on Analyst Upgrade

Alcoa Co. (NYSE:AA) shares rose 7.3% on Wednesday after B. Riley raised their price target on the stock from $45.00 to $51.00. B. Riley currently has a neutral rating on the stock. Alcoa traded as high as $49.06 and last traded at $48.91. Approximately 92,146 shares changed hands during trading, a decline of 99% from the average daily volume of 7,056,895 shares. The stock had previously closed at $45.60.

Other research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Alcoa from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, September 16th. The Goldman Sachs Group raised their price objective on shares of Alcoa from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, July 19th. Zacks Investment Research raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Monday. Credit Suisse Group raised their price objective on shares of Alcoa from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, September 14th. Finally, Citigroup raised shares of Alcoa from a “neutral” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Friday, July 16th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $51.00.

Several institutional investors have recently bought and sold shares of the company. Jacobi Capital Management LLC lifted its position in Alcoa by 12.1% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,125 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 230 shares during the last quarter. Spotlight Asset Group Inc. lifted its position in Alcoa by 1.5% in the 2nd quarter. Spotlight Asset Group Inc. now owns 38,635 shares of the industrial products company’s stock valued at $1,423,000 after purchasing an additional 573 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in Alcoa by 83.0% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,554 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 705 shares during the last quarter. C M Bidwell & Associates Ltd. lifted its position in Alcoa by 8.9% in the 1st quarter. C M Bidwell & Associates Ltd. now owns 9,200 shares of the industrial products company’s stock valued at $299,000 after purchasing an additional 755 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its position in Alcoa by 13.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 8,187 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 950 shares during the last quarter.

The stock has a market capitalization of $9.13 billion, a P/E ratio of 21.59 and a beta of 2.65. The company’s 50-day moving average is $42.22 and its two-hundred day moving average is $37.75. The company has a current ratio of 1.57, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 14th. The industrial products company reported $1.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.18. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Alcoa had a net margin of 4.12% and a return on equity of 5.16%. Alcoa’s quarterly revenue was up 31.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) EPS. Sell-side analysts expect that Alcoa Co. will post 5.49 EPS for the current fiscal year.

Alcoa Company Profile (NYSE:AA)

Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.

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