Argus Lowers Alcoa (NYSE:AA) Price Target to $55.00

Alcoa (NYSE:AA) had its price target lowered by research analysts at Argus from $73.00 to $55.00 in a report released on Wednesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the industrial products company’s stock. Argus’ target price would suggest a potential upside of 21.45% from the stock’s current price.

Several other research analysts also recently weighed in on AA. Zacks Research downgraded shares of Alcoa from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Bank of America cut their price objective on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research report on Thursday, July 9th. Wall Street Zen lowered Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. decreased their target price on Alcoa from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Finally, BMO Capital Markets lowered their target price on Alcoa from $60.00 to $55.00 and set a “market perform” rating on the stock in a research report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.09.

Alcoa Price Performance

NYSE AA opened at $45.29 on Wednesday. Alcoa has a 52 week low of $28.11 and a 52 week high of $84.38. The firm has a market capitalization of $11.95 billion, a P/E ratio of 9.32, a PEG ratio of 0.52 and a beta of 1.63. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $59.93 and a 200-day moving average price of $62.25.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period in the previous year, the business posted $0.39 EPS. Equities research analysts anticipate that Alcoa will post 6.55 earnings per share for the current year.

Hedge Funds Weigh In On Alcoa

A number of hedge funds have recently modified their holdings of the company. Basepoint Wealth LLC bought a new stake in shares of Alcoa during the 4th quarter valued at $25,000. Advisory Services Network LLC bought a new position in Alcoa in the 3rd quarter worth $27,000. Raleigh Capital Management Inc. boosted its holdings in Alcoa by 52,500.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after buying an additional 525 shares during the period. CoreCap Advisors LLC increased its stake in Alcoa by 74.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after buying an additional 237 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in Alcoa by 5,281.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after buying an additional 581 shares in the last quarter.

Alcoa Company Profile

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.