Alcoa Co. (NYSE:AA) Receives $36.17 Average Target Price from Analysts

Shares of Alcoa Co. (NYSE:AA) have been given a consensus rating of “Hold” by the thirteen analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $36.17.

AA has been the subject of a number of analyst reports. StockNews.com cut Alcoa from a “hold” rating to a “sell” rating in a report on Friday, April 19th. B. Riley increased their target price on Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. BMO Capital Markets boosted their price target on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Jefferies Financial Group increased their price objective on shares of Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Morgan Stanley raised shares of Alcoa from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $36.50 to $50.00 in a research note on Friday, June 21st.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AA. Spire Wealth Management lifted its holdings in shares of Alcoa by 252.5% in the 1st quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in Alcoa during the fourth quarter worth $31,000. Private Wealth Management Group LLC purchased a new position in shares of Alcoa during the fourth quarter worth $33,000. Quent Capital LLC grew its stake in shares of Alcoa by 64.2% in the fourth quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after buying an additional 387 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in shares of Alcoa in the 4th quarter valued at $39,000.

Alcoa Trading Down 1.6 %

Alcoa stock opened at $39.93 on Friday. The firm has a market cap of $7.17 billion, a PE ratio of -10.62 and a beta of 2.45. Alcoa has a 12 month low of $23.07 and a 12 month high of $45.48. The stock’s 50 day simple moving average is $39.32 and its two-hundred day simple moving average is $33.63. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the company posted ($0.23) earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Analysts anticipate that Alcoa will post 0.2 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, May 20th. Alcoa’s dividend payout ratio is presently -10.64%.

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.