According to information provided by Briefing.com, Morgan Stanley upgraded Alcoa (NYSE: AA) to the “overweight” category in a research report published on Friday. Previously, the company had rated the stock as “equal weight.” The business’s price estimate on the shares of the company that manufactures industrial items has climbed from $51.00 to $66.00 due to this increase. According to the price objective that Morgan Stanley has set for the firm, there is a possibility that its stock price may climb by 52.99% over its current level. Regarding the stock, studies have been performed by several different equity experts as well. On Thursday, July 21, BMO Capital Markets released a research note that lowered their target price for Alcoa shares from $57.00 to $55.00. The new price target was stated in the note. Immediately after reading this, the policy was updated.
B. Riley decreased their price goal on Alcoa shares from $80.00 to $54.00 and set the stock’s “neutral” rating in a research report issued on Tuesday, June 28. Goldman Sachs Group decreased their price objective on Alcoa shares from $90.00 to $80.00 while maintaining their “buy” rating on the business. This information was included in a research report made available to the general public on Friday, July 22. The “underperform” rating was assigned to Alcoa by Credit Suisse Group in a research report released on Tuesday, July 19. The previous rating for Alcoa was “neutral.” This was not the final instance in which the company suffered a downgrade. The company has been given a rating of “Hold” by six analysts in the market, while a recommendation of “buy” has been assigned to it by another six analysts.
In addition, the company has been assigned an average recommendation of “Moderate Buy,” The average price goal has been set at $80.00, as reported by Bloomberg.com.
AA shares began trading for $43.14 per share on Friday morning. The company has a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 0.71, and a beta value of 2.31. These ratios measure how much a company’s current price corresponds to its future earnings. The total value of the corporation, as represented by its market capitalization, is $7.76 billion. Alcoa’s low point in the prior year was $39.56, and the company’s highest point in the prior year was $39.56. The value of the current ratio is 1.81, the value of the quick ratio is 1.02, and the value of the debt-to-equity ratio is 0.24. All three ratios have similar values. The company’s price has a moving average for the last fifty days of $48.91, and the price has a moving average for the past 200 days of $62.10, respectively.
On July 20, Alcoa (NYSE: AA) released its most recent quarterly results report.
The earnings per share that the industrial products business reported for the quarter came in at $2.67, which was $1.04 less than the average prediction of $3.71. Alcoa had a return on equity of 30.66%, and the net margin for the company was 7.19%. The actual revenue for the quarter came in at $3.64 billion, which is considerably more than the average prediction of $3.48 billion that was made for the revenue for the quarter. In the same period the year before, the company reported a profit of $1.49 for each share it had outstanding. Compared to the same period in the prior year, the rise in income was 28.6% larger than before. The current fiscal year is expected to result in an average profit of $7.26 per share for Alcoa, according to industry analysts’ forecasts.
Various hedge funds and other institutional investors have bought and sold AA shares in recent months. Hanseatic Management Services, Inc. made a financial investment in Alcoa of $25,000 during the first three months.
The company, Neo Ivy Capital Management, invested $27,000 in stock acquisitions from Alcoa during the second quarter of the fiscal year. Emerson Wealth LLC made a stock investment in Alcoa during the second quarter of 2018 with $29,000. Fairfield Bush & Co. purchased shares of Alcoa for a total of $29,000, which was invested throughout the first three months of the year. Ritter Daniher Financial Advisory LLC DE spent $33,000 during the second quarter to buy one more share of Alcoa.
The Alcoa Corporation and its subsidiaries and affiliates produce and sell bauxite, alumina, and aluminum products in a wide variety of countries across the world.
Some countries include the United States of America, Spain, Australia, Iceland, Norway, Brazil, Canada, and other countries. The company can be partitioned into three main departments: bauxite, alumina, and aluminum. The mining of bauxite is followed by the production of alumina, which can then be sold to customers and used in the manufacturing of various industrial chemical products, including casting and smelting aluminum. “Once alumina is made, it can be used to make several industrial chemical products, such as casting and melting aluminum.”