Alcoa (NYSE:AA) Given New $31.00 Price Target at B. Riley

Alcoa (NYSE:AA - Get Free Report) had its price objective boosted by research analysts at B. Riley from $25.00 to $31.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the industrial products company's stock. B. Riley's target price suggests a potential downside of 12.63% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Bank of America boosted their price target on shares of Alcoa from $31.00 to $32.00 and gave the company a "neutral" rating in a report on Monday, March 18th. BMO Capital Markets boosted their price target on shares of Alcoa from $35.00 to $37.00 and gave the company a "market perform" rating in a report on Thursday. UBS Group began coverage on shares of Alcoa in a report on Tuesday, January 16th. They set a "sell" rating and a $29.00 price target on the stock. Morgan Stanley boosted their price target on shares of Alcoa from $27.00 to $29.50 and gave the company an "underweight" rating in a report on Thursday, January 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Alcoa from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Alcoa currently has a consensus rating of "Hold" and an average target price of $32.71.

Alcoa Price Performance

Shares of NYSE AA traded down $0.07 during midday trading on Thursday, reaching $35.48. The company's stock had a trading volume of 11,605,293 shares, compared to its average volume of 6,436,754. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $30.81 and a 200 day moving average price of $28.97. Alcoa has a one year low of $23.07 and a one year high of $42.23. The company has a market cap of $6.37 billion, a price-to-earnings ratio of -9.72, a price-to-earnings-growth ratio of 2.32 and a beta of 2.47.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 6.56% and a negative net margin of 6.17%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts expect that Alcoa will post 0.33 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total transaction of $814,685.04. Following the transaction, 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 document filed with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. State Street Corp increased its stake in shares of Alcoa by 3.4% during the 1st quarter. State Street Corp now owns 8,273,477 shares of the industrial products company's stock worth $352,119,000 after purchasing an additional 271,387 shares during the last quarter. Morgan Stanley grew its stake in Alcoa by 24.9% in the 3rd quarter. Morgan Stanley now owns 5,941,667 shares of the industrial products company's stock valued at $172,665,000 after buying an additional 1,185,323 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Alcoa by 4,737.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,578,275 shares of the industrial products company's stock valued at $208,174,000 after buying an additional 4,483,625 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Alcoa by 34.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,312,340 shares of the industrial products company's stock valued at $146,626,000 after buying an additional 1,104,423 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Alcoa in the 1st quarter valued at $318,670,000.

Alcoa Company Profile

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.