Alcoa (NYSE:AA) Given “Equal Weight” Rating at Morgan Stanley

Alcoa (NYSE:AA)‘s stock had its “equal weight” rating restated by investment analysts at Morgan Stanley in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $53.00 price objective on the industrial products company’s stock, down from their prior price objective of $79.00. Morgan Stanley’s price target would suggest a potential upside of 8.22% from the company’s current price.

Several other equities research analysts have also recently weighed in on AA. Wall Street Zen cut Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Argus set a $73.00 price objective on shares of Alcoa in a research report on Monday, April 27th. JPMorgan Chase & Co. upped their target price on shares of Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. B. Riley Financial cut their price target on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Weiss Ratings raised shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.00.

Alcoa Trading Down 1.8%

NYSE:AA opened at $48.97 on Wednesday. Alcoa has a 1 year low of $28.11 and a 1 year high of $84.38. The stock’s fifty day moving average price is $64.21 and its two-hundred day moving average price is $62.80. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88. The company has a market cap of $12.92 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.77 and a beta of 1.63.

Alcoa (NYSE:AA) last released its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the firm posted $2.15 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, analysts expect that Alcoa will post 7.54 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Mirabella Financial Services LLP lifted its stake in Alcoa by 12,233.1% during the third quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company’s stock worth $1,318,312,000 after purchasing an additional 39,757,462 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Alcoa by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,580,803 shares of the industrial products company’s stock worth $615,428,000 after buying an additional 462,243 shares during the last quarter. State Street Corp lifted its position in Alcoa by 6.7% in the 3rd quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock worth $376,871,000 after buying an additional 721,063 shares during the last quarter. Geode Capital Management LLC boosted its stake in Alcoa by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company’s stock worth $389,621,000 after buying an additional 349,426 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Alcoa by 211.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock valued at $332,338,000 after acquiring an additional 4,247,559 shares during the last quarter.

About Alcoa

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.