Alcoa (NYSE:AA) PT Raised to $39.00

Alcoa (NYSE:AA) had its price target boosted by JPMorgan Chase & Co. from $36.00 to $39.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other analysts have also recently issued research reports about the stock. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $52.00 in a research note on Tuesday, October 1st. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, September 4th. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and upped their price objective for the company from $41.00 to $50.00 in a research note on Thursday. Finally, StockNews.com cut shares of Alcoa from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $44.45.

Alcoa Stock Up 3.4 %

AA opened at $41.71 on Thursday. Alcoa has a fifty-two week low of $23.07 and a fifty-two week high of $45.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The company has a fifty day moving average of $34.96 and a two-hundred day moving average of $36.80. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of -11.09 and a beta of 2.42.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.14) earnings per share. On average, research analysts expect that Alcoa will post 0.29 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.96%. Alcoa’s dividend payout ratio is currently -10.64%.

Hedge Funds Weigh In On Alcoa

Several large investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in shares of Alcoa by 12.0% in the 3rd quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company’s stock worth $128,000 after acquiring an additional 344 shares during the last quarter. Trust Point Inc. increased its stake in Alcoa by 23.7% during the 3rd quarter. Trust Point Inc. now owns 6,884 shares of the industrial products company’s stock worth $266,000 after buying an additional 1,317 shares during the period. Vontobel Holding Ltd. increased its stake in Alcoa by 70.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 11,836 shares of the industrial products company’s stock worth $457,000 after buying an additional 4,909 shares during the period. Creative Planning increased its stake in Alcoa by 33.4% during the 3rd quarter. Creative Planning now owns 31,817 shares of the industrial products company’s stock worth $1,227,000 after buying an additional 7,964 shares during the period. Finally, Douglas Lane & Associates LLC increased its stake in Alcoa by 2.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock worth $54,859,000 after buying an additional 27,217 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Alcoa Company Profile

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.