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

Alcoa (NYSE:AA) had its price target dropped by analysts at Morgan Stanley from $55.00 to $51.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price target points to a potential upside of 48.64% from the company’s previous close.

Several other research analysts also recently commented on the stock. BMO Capital Markets increased their price objective on shares of Alcoa to $43.00 and gave the company a “hold” rating in a report on Friday, January 17th. B. Riley raised shares of Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. UBS Group increased their price objective on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Bank of America increased their price objective on shares of Alcoa to $58.00 and gave the company a “buy” rating in a report on Friday. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.55.

Alcoa Stock Performance

Shares of AA stock traded down $0.66 during mid-day trading on Tuesday, reaching $34.31. 1,853,140 shares of the company’s stock traded hands, compared to its average volume of 5,330,842. Alcoa has a 12 month low of $24.86 and a 12 month high of $47.77. The firm has a 50 day moving average price of $40.15 and a two-hundred day moving average price of $37.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The firm has a market capitalization of $8.86 billion, a PE ratio of -214.94, a price-to-earnings-growth ratio of 0.16 and a beta of 2.47.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.48%. On average, research analysts forecast that Alcoa will post 4.27 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Mountaineer Partners Management LLC grew its stake in 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 valued at $416,505,000 after acquiring an additional 10,534,036 shares in the last quarter. State Street Corp grew its stake in Alcoa by 23.3% during the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after acquiring an additional 1,805,915 shares in the last quarter. Geode Capital Management LLC grew its stake in Alcoa by 42.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after acquiring an additional 1,239,479 shares in the last quarter. ARGA Investment Management LP grew its stake in shares of Alcoa by 29.6% in the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock valued at $113,276,000 after buying an additional 684,505 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Alcoa by 32.9% in 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 during the period.

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.