B. Riley Financial Reiterates Neutral Rating for Alcoa (NYSE:AA)

Alcoa (NYSE:AA)‘s stock had its “neutral” rating reissued by research analysts at B. Riley Financial in a report released on Tuesday, Stock Target Advisor reports. They presently have a $41.00 price objective on the industrial products company’s stock. B. Riley Financial’s price target points to a potential upside of 20.62% from the stock’s previous close.

A number of other brokerages also recently issued reports on AA. Citigroup raised their price target on Alcoa from $32.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Wednesday, September 4th. Morgan Stanley decreased their price objective on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Bank of America lowered their target price on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $40.27.

Alcoa Price Performance

AA stock traded down $0.51 during trading on Tuesday, hitting $33.99. 1,312,212 shares of the company’s stock traded hands, compared to its average volume of 5,996,067. The business has a fifty day simple moving average of $32.90 and a 200 day simple moving average of $35.58. Alcoa has a 52 week low of $23.07 and a 52 week high of $45.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of -9.00 and a beta of 2.42.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) earnings per share. As a group, research analysts expect that Alcoa will post 0.7 EPS for the current fiscal year.

Institutional Trading of Alcoa

Institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Alcoa during the second quarter valued at approximately $296,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Alcoa during the 2nd quarter valued at $27,000. Sanctuary Advisors LLC purchased a new position in Alcoa during the 2nd quarter worth $304,000. Senator Investment Group LP acquired a new position in Alcoa during the 2nd quarter valued at about $8,610,000. Finally, William B. Walkup & Associates Inc. purchased a new stake in Alcoa in the second quarter valued at about $102,000. 82.39% of the stock is currently owned by institutional investors.

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.