Jefferies Financial Group Issues Pessimistic Forecast for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its price objective cut by Jefferies Financial Group from $50.00 to $45.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

AA has been the topic of several other reports. BMO Capital Markets upped their price objective on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Thursday, October 17th. B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the company from $41.00 to $50.00 in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. UBS Group upped their price objective on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.45.

Alcoa Stock Performance

Shares of AA opened at $36.47 on Monday. Alcoa has a 12-month low of $24.86 and a 12-month high of $47.77. The stock has a market cap of $9.42 billion, a P/E ratio of -20.72, a PEG ratio of 0.79 and a beta of 2.47. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $41.66 and a two-hundred day moving average of $37.93.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.34. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.14) EPS. As a group, research analysts predict that Alcoa will post 0.9 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.10%. Alcoa’s payout ratio is -22.73%.

Insider Buying and Selling

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the transaction, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On Alcoa

A number of hedge funds have recently made changes to their positions in AA. Natixis Advisors LLC acquired a new stake in shares of Alcoa in the second quarter valued at about $787,000. Arizona State Retirement System raised its stake in shares of Alcoa by 2.5% during the second quarter. Arizona State Retirement System now owns 50,268 shares of the industrial products company’s stock valued at $2,000,000 after purchasing an additional 1,220 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Alcoa by 407.8% during the second quarter. Los Angeles Capital Management LLC now owns 31,629 shares of the industrial products company’s stock worth $1,258,000 after purchasing an additional 25,400 shares in the last quarter. Choreo LLC boosted its stake in shares of Alcoa by 18.9% in the second quarter. Choreo LLC now owns 28,922 shares of the industrial products company’s stock valued at $1,148,000 after purchasing an additional 4,605 shares during the period. Finally, Texas Permanent School Fund Corp boosted its stake in shares of Alcoa by 5.1% in the second quarter. Texas Permanent School Fund Corp now owns 164,232 shares of the industrial products company’s stock valued at $6,533,000 after purchasing an additional 8,035 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.

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.