Analysts Set Alcoa Co. (NYSE:AA) PT at $46.73

Alcoa Co. (NYSE:AA) has been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $46.73.

A number of analysts recently commented on AA shares. JPMorgan Chase & Co. lifted their price target on Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. UBS Group lifted their target price on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, October 23rd. B. Riley Financial restated a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a report on Tuesday, September 17th. Finally, Morgan Stanley boosted their target price on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 18th.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the sale, the executive vice president now owns 57,317 shares in the company, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.08% of the company’s stock.

Institutional Investors Weigh In On Alcoa

Hedge funds have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new stake in Alcoa during the second quarter valued at about $27,000. UMB Bank n.a. lifted its position in Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after buying an additional 631 shares during the last quarter. Quarry LP purchased a new position in shares of Alcoa during the third quarter worth approximately $43,000. Continuum Advisory LLC raised its stake in shares of Alcoa by 1,945.5% during the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 1,070 shares in the last quarter. Finally, Millburn Ridgefield Corp bought a new stake in shares of Alcoa in the 3rd quarter worth approximately $89,000. 82.39% of the stock is currently owned by institutional investors.

Alcoa Stock Performance

NYSE AA opened at $38.44 on Friday. The company has a fifty day moving average price of $42.64 and a 200-day moving average price of $38.18. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of -21.84, a PEG ratio of 0.79 and a beta of 2.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. Alcoa has a 1 year low of $24.86 and a 1 year high of $47.77.

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 analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the firm posted ($1.14) EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts predict that Alcoa will post 0.9 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is presently -22.73%.

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.