Alcoa (NYSE:AA) Price Target Raised to $48.00 at Jefferies Financial Group

Alcoa (NYSE:AA) had its price objective hoisted by Jefferies Financial Group from $45.00 to $48.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley upped their price objective on shares of Alcoa from $27.00 to $29.50 and gave the company an underweight rating in a research note on Thursday, January 18th. JPMorgan Chase & Co. upped their price objective on shares of Alcoa from $30.00 to $32.00 and gave the company a neutral rating in a research note on Thursday, January 18th. BMO Capital Markets upped their price objective on shares of Alcoa from $35.00 to $37.00 and gave the company a market perform rating in a research note on Thursday. StockNews.com raised shares of Alcoa from a sell rating to a hold rating in a research note on Tuesday, April 9th. Finally, Bank of America increased their price target on shares of Alcoa from $31.00 to $32.00 and gave the company a neutral rating in a research report on Monday, March 18th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Alcoa presently has a consensus rating of Hold and a consensus target price of $32.71.

Alcoa Stock Performance

Alcoa stock opened at $35.48 on Thursday. The firm’s 50 day simple moving average is $30.97 and its 200 day simple moving average is $29.02. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $6.37 billion, a PE ratio of -9.72, a price-to-earnings-growth ratio of 2.32 and a beta of 2.47. Alcoa has a 1-year low of $23.07 and a 1-year high of $42.23.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. Alcoa had a negative return on equity of 6.56% and a negative net margin of 6.17%. Alcoa’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.23) EPS. As a group, analysts expect that Alcoa will post 0.33 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were issued a $0.10 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.13%. Alcoa’s dividend payout ratio (DPR) is presently -10.96%.

Insider Buying and Selling

In related news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the transaction, the executive vice president now directly owns 41,166 shares in the company, valued at approximately $1,267,089.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.08% of the stock is owned by company insiders.

Institutional Trading of Alcoa

A number of institutional investors and hedge funds have recently bought and sold shares of AA. Fairfield Bush & CO. purchased a new stake in shares of Alcoa during the 1st quarter valued at about $29,000. US Bancorp DE boosted its holdings in shares of Alcoa by 4.9% in the first quarter. US Bancorp DE now owns 9,359 shares of the industrial products company’s stock worth $842,000 after buying an additional 434 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Alcoa in the first quarter worth approximately $435,000. Great West Life Assurance Co. Can boosted its holdings in shares of Alcoa by 8.0% in the first quarter. Great West Life Assurance Co. Can now owns 108,717 shares of the industrial products company’s stock worth $10,089,000 after buying an additional 8,028 shares during the last quarter. Finally, Blair William & Co. IL purchased a new position in shares of Alcoa in the first quarter worth approximately $242,000. 82.39% of the stock is currently owned by institutional investors.

About Alcoa

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.