B. Riley Has Lowered Expectations for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its target price reduced by B. Riley from $43.00 to $38.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. B. Riley’s target price would indicate a potential upside of 31.81% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. UBS Group reissued a “neutral” rating and set a $31.00 price objective on shares of Alcoa in a research report on Thursday, May 15th. HC Wainwright upped their price target on Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. increased their price objective on Alcoa from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, June 18th. Bank of America reaffirmed an “underperform” rating and set a $26.00 target price (down previously from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. Finally, Wall Street Zen cut shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Sunday. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and a consensus target price of $42.33.

Alcoa Stock Performance

AA traded up $0.12 on Tuesday, hitting $28.83. The company had a trading volume of 2,687,675 shares, compared to its average volume of 5,581,649. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 0.16 and a beta of 2.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.71 and a quick ratio of 1.00. The company’s fifty day moving average price is $27.00 and its 200 day moving average price is $31.92. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.42. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. Equities analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. boosted its holdings in shares of Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 296 shares in the last quarter. Versant Capital Management Inc boosted its stake in Alcoa by 134.7% in the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 520 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Alcoa during the fourth quarter worth $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of Alcoa in the fourth quarter valued at $36,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after buying an additional 393 shares during the last quarter.

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.