Stock Traders Purchase Large Volume of Alcoa Call Options (NYSE:AA)

Alcoa Co. (NYSE:AA) was the target of unusually large options trading activity on Thursday. Stock investors bought 39,703 call options on the company. This represents an increase of 118% compared to the average volume of 18,245 call options.

Hedge Funds Weigh In On Alcoa

A number of hedge funds have recently bought and sold shares of AA. Newbridge Financial Services Group Inc. acquired a new stake in shares of Alcoa during the 2nd quarter worth $27,000. UMB Bank n.a. increased its stake in Alcoa by 481.7% in the third 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 last quarter. Quarry LP bought a new stake in Alcoa during the third quarter worth $43,000. Continuum Advisory LLC boosted its holdings in shares of Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,070 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Alcoa by 399.0% during the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock worth $55,000 after buying an additional 1,157 shares during the last quarter.

Alcoa Trading Down 0.1 %

Alcoa stock opened at $37.33 on Friday. Alcoa has a 52 week low of $24.86 and a 52 week high of $47.77. The stock has a 50-day simple moving average of $40.33 and a 200 day simple moving average of $37.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The stock has a market capitalization of $9.64 billion, a P/E ratio of -233.28, a PEG ratio of 0.16 and a beta of 2.47.

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

Wall Street Analyst Weigh In

AA has been the topic of a number of research reports. Morgan Stanley boosted their price target on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Jefferies Financial Group reduced their price target on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $41.00 to $50.00 in a report on Thursday, October 17th. BMO Capital Markets boosted their price objective on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Finally, Bank of America raised their target price on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.36.

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.