Alcoa (NYSE:AA) Given New $45.00 Price Target at Jefferies Financial Group

Alcoa (NYSE:AA) had its target price cut by analysts at Jefferies Financial Group from $50.00 to $45.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s target price points to a potential upside of 26.02% from the company’s previous close.

A number of other analysts have also weighed in on the company. Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets upped their price target on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upped their target price on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Alcoa has an average rating of “Moderate Buy” and a consensus price target of $46.45.

Alcoa Trading Down 6.0 %

Shares of AA stock opened at $35.71 on Monday. The firm has a market cap of $9.23 billion, a PE ratio of -20.29, a price-to-earnings-growth ratio of 0.79 and a beta of 2.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. Alcoa has a 1-year low of $24.86 and a 1-year high of $47.77. The company has a 50-day moving average of $41.76 and a two-hundred day moving average of $37.95.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.34. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. Alcoa’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.14) EPS. On average, analysts predict that Alcoa will post 0.9 EPS for the current year.

Insider Activity at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the transaction, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.08% of the stock is owned by insiders.

Institutional Trading of Alcoa

Several hedge funds have recently made changes to their positions in the company. Mountaineer Partners Management LLC grew its holdings in Alcoa by 4,023.0% during the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after acquiring an additional 10,534,036 shares during the period. State Street Corp grew its holdings in shares of Alcoa by 23.3% in the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock worth $368,965,000 after acquiring an additional 1,805,915 shares during the period. Dimensional Fund Advisors LP boosted its position in Alcoa by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after purchasing an additional 390,930 shares in the last quarter. Geode Capital Management LLC grew its holdings in Alcoa by 42.0% in the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after purchasing an additional 1,239,479 shares during the last quarter. Finally, ARGA Investment Management LP increased its position in shares of Alcoa by 1.5% in the third quarter. ARGA Investment Management LP now owns 2,313,806 shares of the industrial products company’s stock valued at $89,267,000 after buying an additional 34,878 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

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.