Brokerages Set Alcoa Co. (NYSE:AA) PT at $40.82

Alcoa Co. (NYSE:AAGet Free Report) has received an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $41.64.

AA has been the subject of several recent analyst reports. B. Riley upped their price objective on shares of Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. B. Riley Financial reiterated a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. Morgan Stanley lowered their price objective on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, Bank of America raised Alcoa from a “neutral” rating to a “buy” rating and raised their price objective for the company from $43.00 to $52.00 in a research note on Tuesday, October 1st.

Check Out Our Latest Stock Analysis on Alcoa

Institutional Investors Weigh In On Alcoa

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new position in Alcoa in the second quarter worth $27,000. Scarborough Advisors LLC purchased a new position in shares of Alcoa during the 4th quarter valued at $39,000. Toronto Dominion Bank lifted its position in shares of Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after buying an additional 1,592 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 309 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Alcoa in the 1st quarter worth about $101,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

Alcoa Stock Performance

Shares of NYSE:AA opened at $39.48 on Tuesday. Alcoa has a 12-month low of $23.07 and a 12-month high of $45.48. The company’s 50 day moving average price is $33.17 and its two-hundred day moving average price is $36.36. The firm has a market cap of $7.09 billion, a PE ratio of -10.50 and a beta of 2.42. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46.

Alcoa (NYSE:AAGet Free Report) last announced its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) EPS. Equities research analysts predict that Alcoa will post 0.56 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Monday, August 12th. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Alcoa Company Profile

(Get Free Report

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.

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Analyst Recommendations for Alcoa (NYSE:AA)

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