Credit Suisse Group upgraded shares of Alcoa (NYSE:AA) from a neutral rating to an outperform rating in a research note published on Wednesday, BenzingaRatingsTable reports. Credit Suisse Group currently has $27.00 target price on the industrial products company’s stock, up from their prior target price of $26.00.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of Alcoa from a buy rating to a hold rating and decreased their price objective for the company from $29.00 to $23.00 in a research report on Thursday, July 18th. Zacks Investment Research raised shares of Alcoa from a sell rating to a hold rating in a research report on Monday, September 2nd. Bank of America reiterated a neutral rating and issued a $20.00 price target (down previously from $25.00) on shares of Alcoa in a report on Friday, August 16th. Deutsche Bank downgraded shares of Alcoa from a buy rating to a hold rating and cut their price target for the stock from $35.00 to $23.00 in a report on Thursday, July 11th. Finally, ValuEngine downgraded shares of Alcoa from a buy rating to a hold rating in a report on Wednesday, September 4th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Alcoa presently has a consensus rating of Buy and an average target price of $33.92.

Shares of Alcoa stock opened at $22.89 on Wednesday. The firm has a market capitalization of $4.12 billion, a P/E ratio of 6.39 and a beta of 1.45. The company has a quick ratio of 0.81, a current ratio of 1.51 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $19.42 and a 200 day moving average price of $23.92. Alcoa has a 52 week low of $16.46 and a 52 week high of $45.45.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, July 17th. The industrial products company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.33. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.77 billion. Alcoa had a negative net margin of 4.92% and a positive return on equity of 2.78%. Alcoa’s revenue was down 24.3% on a year-over-year basis. During the same period last year, the firm posted $1.52 EPS. As a group, research analysts anticipate that Alcoa will post -0.27 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of AA. Steward Partners Investment Advisory LLC acquired a new stake in shares of Alcoa during the 2nd quarter worth approximately $25,000. Parallel Advisors LLC grew its stake in shares of Alcoa by 143.3% during the 1st quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 589 shares during the period. TRUE Private Wealth Advisors acquired a new stake in shares of Alcoa during the 2nd quarter worth approximately $30,000. Farmers National Bank acquired a new stake in shares of Alcoa during the 1st quarter worth approximately $32,000. Finally, Quantamental Technologies LLC acquired a new stake in shares of Alcoa during the 2nd quarter worth approximately $74,000.

Alcoa Company Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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Analyst Recommendations for Alcoa (NYSE:AA)

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