Morgan Stanley Cuts Alcoa (NYSE:AA) Price Target to $51.00

Alcoa (NYSE:AA) had its price target lowered by Morgan Stanley from $55.00 to $51.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Other analysts also recently issued research reports about the stock. Bank of America boosted their target price on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Jefferies Financial Group cut their target price on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. B. Riley raised Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, October 23rd. Finally, BMO Capital Markets lifted their target price on Alcoa to $43.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.55.

Alcoa Stock Performance

Shares of AA stock opened at $34.15 on Tuesday. Alcoa has a 12-month low of $24.86 and a 12-month high of $47.77. The business’s fifty day simple moving average is $39.92 and its 200-day simple moving average is $37.57. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The company has a market cap of $8.82 billion, a PE ratio of -213.42, a PEG ratio of 0.16 and a beta of 2.47.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a return on equity of 5.48% and a net margin of 0.50%. Analysts expect that Alcoa will post 4.27 earnings per share for the current fiscal year.

Institutional Trading of Alcoa

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC boosted its stake in shares of Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after acquiring an additional 10,534,036 shares in the last quarter. State Street Corp grew its holdings in Alcoa by 23.3% in the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after purchasing an additional 1,805,915 shares during the period. Geode Capital Management LLC increased its position in shares of Alcoa by 42.0% in the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after buying an additional 1,239,479 shares in the last quarter. ARGA Investment Management LP raised its stake in shares of Alcoa by 29.6% during the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock worth $113,276,000 after buying an additional 684,505 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Alcoa by 32.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,888,590 shares of the industrial products company’s stock valued at $72,862,000 after buying an additional 467,986 shares in the last quarter.

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.