UBS Group Boosts Alcoa (NYSE:AA) Price Target to $40.00

Alcoa (NYSE:AA) had its price objective upped by UBS Group from $38.00 to $40.00 in a research note published on Thursday morning, MarketBeat Ratings reports. UBS Group currently has a buy rating on the industrial products company’s stock.

Other analysts have also recently issued reports about the stock. B. Riley raised their target price on shares of Alcoa from $37.00 to $41.00 and gave the stock a neutral rating in a report on Tuesday, September 17th. Bank of America reduced their target price on shares of Alcoa from $46.00 to $43.00 and set a neutral rating for the company in a report on Thursday, July 18th. B. Riley Financial restated a neutral rating and set a $41.00 target price on shares of Alcoa in a report on Tuesday, September 17th. Morgan Stanley reduced their target price on shares of Alcoa from $50.00 to $48.00 and set an overweight rating for the company in a report on Monday, July 22nd. Finally, StockNews.com upgraded shares of Alcoa from a sell rating to a hold rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $40.45.

Alcoa Price Performance

NYSE AA opened at $33.83 on Thursday. Alcoa has a 12 month low of $23.07 and a 12 month high of $45.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The firm has a market capitalization of $6.07 billion, a PE ratio of -9.00 and a beta of 2.42. The company’s 50 day simple moving average is $32.51 and its 200 day simple moving average is $35.77.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the business earned ($0.35) earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Alcoa will post 0.7 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s dividend payout ratio is -10.64%.

Hedge Funds Weigh In On Alcoa

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Alcoa during the 2nd quarter valued at $27,000. Scarborough Advisors LLC acquired a new stake in shares of Alcoa during the 4th quarter valued at $39,000. Quest Partners LLC acquired a new stake in shares of Alcoa during the 4th quarter valued at $40,000. Quadrant Capital Group LLC boosted its stake in shares of Alcoa by 56.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock valued at $55,000 after buying an additional 576 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after buying an additional 1,592 shares during the period. Institutional investors and hedge funds 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.