B. Riley Has Lowered Expectations for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its price target cut by B. Riley from $44.00 to $43.00 in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the industrial products company’s stock. B. Riley’s target price suggests a potential upside of 84.85% from the company’s current price. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M

Several other analysts have also recently commented on AA. BMO Capital Markets upped their target price on shares of Alcoa to $43.00 and gave the company a “hold” rating in a research report on Friday, January 17th. HC Wainwright upped their price objective on Alcoa to $90.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. reduced their target price on Alcoa from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday. Jefferies Financial Group lowered their price target on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, UBS Group reduced their price objective on shares of Alcoa from $47.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Alcoa currently has an average rating of “Moderate Buy” and an average target price of $44.17.

Alcoa Price Performance

Alcoa stock opened at $23.26 on Thursday. The business’s 50-day simple moving average is $31.05 and its 200 day simple moving average is $36.95. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of -145.39, a P/E/G ratio of 0.19 and a beta of 2.28. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.42. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, research analysts anticipate that Alcoa will post 4.43 earnings per share for the current year.

Institutional Trading of Alcoa

Several hedge funds and other institutional investors have recently modified their holdings of AA. Ballentine Partners LLC grew its holdings in shares of Alcoa by 3.2% during the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock worth $339,000 after buying an additional 279 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Alcoa by 77.1% in the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 296 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Alcoa by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company’s stock valued at $1,988,000 after purchasing an additional 300 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Alcoa by 5.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company’s stock worth $246,000 after purchasing an additional 328 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Alcoa by 3.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock valued at $365,000 after purchasing an additional 339 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

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.