Wells Fargo & Company Reaffirms Equal Weight Rating for Alcoa (NYSE:AA)

Alcoa (NYSE:AA)‘s stock had its “equal weight” rating reissued by equities researchers at Wells Fargo & Company in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They currently have a $71.00 price objective on the industrial products company’s stock, up from their prior price objective of $58.00. Wells Fargo & Company‘s target price indicates a potential upside of 10.01% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Zacks Research upgraded Alcoa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $50.00 price objective (up from $45.00) on shares of Alcoa in a research report on Thursday, January 8th. BMO Capital Markets lifted their target price on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. B. Riley increased their price target on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Finally, Citigroup raised their price target on Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.83.

Alcoa Stock Performance

NYSE AA opened at $64.54 on Tuesday. The firm has a market capitalization of $16.71 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 0.24 and a beta of 1.95. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average price is $47.54 and its two-hundred day moving average price is $37.87. Alcoa has a 1 year low of $21.53 and a 1 year high of $66.95.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $3.03 billion. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. As a group, research analysts anticipate that Alcoa will post 4.43 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its position in shares of Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 237 shares during the period. Hilltop National Bank bought a new position in Alcoa during the fourth quarter worth about $40,000. True Wealth Design LLC raised its stake in Alcoa by 2,281.3% in the 4th quarter. True Wealth Design LLC now owns 762 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 730 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Alcoa in the 3rd quarter worth about $27,000. Finally, Root Financial Partners LLC bought a new stake in Alcoa in the 3rd quarter valued at about $29,000.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.