Alcoa (NYSE:AA) Price Target Lowered to $47.00 at UBS Group

Alcoa (NYSE:AA) had its price target lowered by UBS Group from $53.00 to $47.00 in a research note issued to investors on Thursday,Benzinga reports. UBS Group currently has a buy rating on the industrial products company’s stock.

AA has been the subject of several other reports. BMO Capital Markets upped their target price on Alcoa to $43.00 and gave the company a “hold” rating in a report on Friday, January 17th. HC Wainwright increased their target price on Alcoa to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Morgan Stanley reduced their price target on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. B. Riley raised shares of Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Jefferies Financial Group cut their price objective on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alcoa currently has an average rating of “Moderate Buy” and a consensus price target of $49.92.

Alcoa Price Performance

Shares of NYSE AA opened at $31.94 on Thursday. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of -199.61, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. The business has a 50 day simple moving average of $34.93 and a 200-day simple moving average of $38.05. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. Alcoa has a twelve month low of $27.12 and a twelve month high of $47.77.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 expect that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.25%. Alcoa’s payout ratio is -250.00%.

Hedge Funds Weigh In On Alcoa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in shares of Alcoa by 77.1% in the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after buying an additional 296 shares during the period. SBI Securities Co. Ltd. bought a new stake in Alcoa in the fourth quarter worth about $29,000. Point72 Hong Kong Ltd acquired a new stake in Alcoa in the 4th quarter valued at about $36,000. Smartleaf Asset Management LLC grew its stake in shares of Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 393 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Alcoa in the 3rd quarter worth approximately $43,000. 82.39% of the stock is owned by institutional investors.

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.