Alcoa (NYSE:AA) Given New $48.00 Price Target at Jefferies Financial Group

Alcoa (NYSE:AA) had its price objective increased by equities research analysts at Jefferies Financial Group from $45.00 to $48.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 35.10% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Bank of America lifted their price objective on shares of Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, March 18th. UBS Group assumed coverage on shares of Alcoa in a report on Tuesday, January 16th. They set a “sell” rating and a $29.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Alcoa has an average rating of “Hold” and a consensus target price of $32.96.

Alcoa Trading Up 0.2 %

NYSE AA opened at $35.53 on Thursday. Alcoa has a 12 month low of $23.07 and a 12 month high of $42.23. The company’s 50-day moving average price is $31.14 and its 200-day moving average price is $29.06. The stock has a market cap of $6.38 billion, a PE ratio of -9.45, a PEG ratio of 2.28 and a beta of 2.47. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.30%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the business earned ($0.23) EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts forecast that Alcoa will post 0.33 earnings per share for the current year.

Insider Transactions at Alcoa

In other news, EVP Tammi A. Jones sold 26,468 shares of Alcoa stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the transaction, the executive vice president now owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Moors & Cabot Inc. grew its position in shares of Alcoa by 2.2% in the 1st quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company’s stock worth $788,000 after buying an additional 185 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Alcoa by 0.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 48,391 shares of the industrial products company’s stock worth $2,206,000 after purchasing an additional 284 shares during the last quarter. State of Wisconsin Investment Board grew its position in Alcoa by 0.4% during the 4th quarter. State of Wisconsin Investment Board now owns 90,102 shares of the industrial products company’s stock worth $4,097,000 after purchasing an additional 317 shares during the last quarter. Fairfield Bush & CO. purchased a new stake in Alcoa during the 1st quarter worth approximately $29,000. Finally, Daiwa Securities Group Inc. grew its position in Alcoa by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company’s stock worth $900,000 after purchasing an additional 338 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.