Morgan Stanley Has Lowered Expectations for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its target price decreased by equities research analysts at Morgan Stanley from $40.00 to $38.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price target suggests a potential upside of 25.45% from the company’s current price.

Other equities analysts have also issued research reports about the company. Wall Street Zen lowered Alcoa from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. cut their price target on Alcoa from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays lifted their price objective on Alcoa to $31.00 and gave the stock a “hold” rating in a report on Friday, May 16th. B. Riley lowered their price objective on Alcoa from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, July 15th. Finally, Bank of America boosted their target price on Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.23.

Alcoa Stock Up 3.1%

AA stock opened at $30.29 on Friday. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77. The business has a fifty day moving average price of $28.94 and a 200-day moving average price of $30.83. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.00. The stock has a market capitalization of $7.84 billion, a P/E ratio of 7.91, a P/E/G ratio of 0.19 and a beta of 2.25.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. Alcoa had a return on equity of 19.27% and a net margin of 7.86%. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts forecast that Alcoa will post 4.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alcoa

Institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. raised its position in shares of Alcoa by 77.1% during the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after buying an additional 296 shares during the last quarter. Continuum Advisory LLC lifted its holdings in Alcoa by 30.7% in the fourth quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company’s stock valued at $56,000 after buying an additional 345 shares during the period. Captrust Financial Advisors lifted its holdings in Alcoa by 5.8% in the fourth quarter. Captrust Financial Advisors now owns 6,569 shares of the industrial products company’s stock valued at $248,000 after buying an additional 361 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Alcoa by 6.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,029 shares of the industrial products company’s stock valued at $341,000 after buying an additional 517 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Alcoa by 134.7% in the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 520 shares during the period.

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.