Barclays Boosts Alcoa (NYSE:AA) Price Target to $31.00

Alcoa (NYSE:AA) had its price target increased by stock analysts at Barclays to $31.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Barclays‘s target price would suggest a potential upside of 5.06% from the stock’s current price.

A number of other equities analysts have also commented on AA. Bank of America reiterated an “underperform” rating and set a $26.00 price target (down previously from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price objective on shares of Alcoa from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. BMO Capital Markets boosted their target price on shares of Alcoa to $43.00 and gave the company a “hold” rating in a report on Friday, January 17th. StockNews.com raised Alcoa from a “hold” rating to a “buy” rating in a research report on Friday, April 18th. Finally, Morgan Stanley lowered their price objective on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.08.

Alcoa Price Performance

Shares of NYSE:AA opened at $29.51 on Friday. The firm has a 50 day moving average of $27.80 and a 200-day moving average of $34.91. Alcoa has a 12 month low of $21.53 and a 12 month high of $47.77. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $7.64 billion, a PE ratio of -184.42, a PEG ratio of 0.19 and a beta of 2.29.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.42. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.58 billion. On average, equities research analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Institutional Trading of Alcoa

A number of large investors have recently modified their holdings of AA. Wealth Enhancement Advisory Services LLC lifted its stake in Alcoa by 3.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock worth $365,000 after purchasing an additional 339 shares during the last quarter. Wedmont Private Capital purchased a new stake in Alcoa during the fourth quarter valued at about $203,000. HB Wealth Management LLC bought a new position in shares of Alcoa during the fourth quarter valued at about $211,000. UMB Bank n.a. increased its stake in Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 598 shares during the period. Finally, Ballentine Partners LLC boosted its stake 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 valued at $339,000 after purchasing an additional 279 shares during the period. Institutional investors 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.