Alcoa (NYSE:AA) Receives “Underperform” Rating from Bank of America

Alcoa (NYSE:AA)‘s stock had its “underperform” rating reissued by research analysts at Bank of America in a research report issued on Tuesday, Marketbeat reports. They currently have a $26.00 price target on the industrial products company’s stock, down from their previous price target of $58.00. Bank of America‘s price target points to a potential upside of 0.64% from the stock’s current price.

AA has been the topic of a number of other reports. BMO Capital Markets raised their price objective on shares of Alcoa to $43.00 and gave the company a “hold” rating in a report on Friday, January 17th. JPMorgan Chase & Co. raised their price objective on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. HC Wainwright raised their price objective on Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Morgan Stanley decreased their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, B. Riley upgraded Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Alcoa presently has a consensus rating of “Moderate Buy” and an average price target of $47.25.

Alcoa Stock Up 14.5 %

Alcoa stock opened at $25.84 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. The firm has a 50 day moving average price of $32.71 and a 200 day moving average price of $37.62. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The company has a market capitalization of $6.69 billion, a PE ratio of -161.47, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Research analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Institutional Investors Weigh In On Alcoa

A number of hedge funds have recently added to or reduced their stakes in AA. Captrust Financial Advisors raised its position in Alcoa by 20.4% in the third quarter. Captrust Financial Advisors now owns 6,208 shares of the industrial products company’s stock worth $240,000 after acquiring an additional 1,050 shares in the last quarter. Verition Fund Management LLC boosted its holdings in Alcoa by 18.7% during the third quarter. Verition Fund Management LLC now owns 17,953 shares of the industrial products company’s stock worth $693,000 after buying an additional 2,823 shares in the last quarter. Quarry LP acquired a new position in Alcoa during the third quarter worth about $43,000. Quantinno Capital Management LP purchased a new stake in shares of Alcoa during the 3rd quarter worth approximately $253,000. Finally, 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. 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.