Brokerages Set Alcoa Co. (NYSE:AA) Target Price at $38.45

Alcoa Co. (NYSE:AA) has received an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $38.80.

Several analysts have issued reports on the company. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. BMO Capital Markets upped their price objective on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. UBS Group upped their price objective on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, April 19th. Jefferies Financial Group upped their price objective on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, B. Riley upped their price objective on Alcoa from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th.

Alcoa Trading Down 1.2 %

NYSE:AA opened at $34.51 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.93 and a current ratio of 1.55. Alcoa has a one year low of $23.07 and a one year high of $45.48. The business’s 50-day simple moving average is $40.34 and its 200 day simple moving average is $34.67. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of -9.18 and a beta of 2.45.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts predict that Alcoa will post 1.72 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Monday, May 20th. Alcoa’s dividend payout ratio (DPR) is -10.64%.

Hedge Funds Weigh In On Alcoa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co bought a new position in Alcoa during the 4th quarter valued at $249,000. Nordea Investment Management AB boosted its stake in Alcoa by 132.2% during the 4th quarter. Nordea Investment Management AB now owns 112,082 shares of the industrial products company’s stock valued at $3,824,000 after purchasing an additional 63,816 shares in the last quarter. Gateway Investment Advisers LLC bought a new position in Alcoa during the 4th quarter valued at $219,000. Handelsinvest Investeringsforvaltning bought a new position in Alcoa during the 4th quarter valued at $285,000. Finally, Raymond James & Associates boosted its stake in Alcoa by 3,731.1% during the 4th quarter. Raymond James & Associates now owns 799,705 shares of the industrial products company’s stock valued at $27,190,000 after purchasing an additional 778,831 shares in the last quarter.

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.