Alcoa Co. (NYSE:AA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Alcoa Co. (NYSE:AA) has received an average recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $50.17.

AA has been the topic of several research reports. HC Wainwright raised their target price on Alcoa to $90.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Bank of America raised their price objective on Alcoa to $58.00 and gave the company a “buy” rating in a report on Friday, January 24th. Morgan Stanley reduced their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. BMO Capital Markets raised their price target on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th.

Alcoa Price Performance

Alcoa stock opened at $33.50 on Tuesday. The stock has a market capitalization of $8.67 billion, a P/E ratio of -209.39, a P/E/G ratio of 0.19 and a beta of 2.55. The company’s fifty day moving average price is $35.23 and its 200 day moving average price is $38.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. Alcoa has a 1 year low of $27.12 and a 1 year high of $47.77.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, equities research analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were given a $0.10 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.19%. Alcoa’s payout ratio is -250.00%.

Institutional Investors Weigh In On Alcoa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AA. Vanguard Group Inc. grew its holdings in shares of Alcoa by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company’s stock worth $981,491,000 after purchasing an additional 165,420 shares during the period. Mountaineer Partners Management LLC boosted its stake in Alcoa by 4,023.0% during the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after buying an additional 10,534,036 shares during the period. State Street Corp increased its position in shares of Alcoa by 23.3% during the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after acquiring an additional 1,805,915 shares during the last quarter. Norges Bank purchased a new stake in shares of Alcoa in the 4th quarter valued at approximately $259,273,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Alcoa by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company’s stock worth $159,966,000 after acquiring an additional 39,022 shares during the last quarter. 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.