Alcoa (NYSE:AA) PT Raised to $31.00 at B. Riley

Alcoa (NYSE:AA) had its price objective raised by investment analysts at B. Riley from $25.00 to $31.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. B. Riley’s target price would suggest a potential downside of 12.75% from the stock’s current price. B. Riley also issued estimates for Alcoa’s FY2025 earnings at $1.64 EPS.

A number of other research analysts also recently commented on AA. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Morgan Stanley lifted their price objective on shares of Alcoa from $27.00 to $29.50 and gave the company an “underweight” rating in a research report on Thursday, January 18th. Jefferies Financial Group lifted their price objective on shares of Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday. 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 research report on Monday, March 18th. Finally, 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 research report on Thursday. Four investment 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.96.

Alcoa Stock Up 0.2 %

Alcoa stock opened at $35.53 on Thursday. The company has a market cap of $6.38 billion, a P/E ratio of -9.45, a price-to-earnings-growth ratio of 2.28 and a beta of 2.47. Alcoa has a 1-year low of $23.07 and a 1-year high of $42.23. The company has a fifty day simple moving average of $31.14 and a 200 day simple moving average of $29.06. 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 released its earnings results 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). The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.30%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the business posted ($0.23) EPS. Research analysts anticipate that Alcoa will post 0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of Alcoa stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the sale, the executive vice president now owns 41,166 shares in the company, valued at approximately $1,267,089.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Trading of Alcoa

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Moors & Cabot Inc. raised its stake in 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 purchasing an additional 185 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Alcoa by 0.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 48,391 shares of the industrial products company’s stock valued at $2,206,000 after buying an additional 284 shares in the last quarter. State of Wisconsin Investment Board raised its position in shares of Alcoa by 0.4% in the 4th quarter. State of Wisconsin Investment Board now owns 90,102 shares of the industrial products company’s stock valued at $4,097,000 after buying an additional 317 shares in the last quarter. Fairfield Bush & CO. acquired a new position in shares of Alcoa in the 1st quarter valued at approximately $29,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Alcoa by 1.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company’s stock valued at $900,000 after buying an additional 338 shares in 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.