Alcoa (NYSE:AA) PT Lowered to $48.00 at Morgan Stanley

Alcoa (NYSE:AA) had its price objective lowered by Morgan Stanley from $50.00 to $48.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

A number of other equities research analysts also recently issued reports on AA. StockNews.com raised Alcoa from a sell rating to a hold rating in a research report on Thursday, July 18th. Jefferies Financial Group raised their target price on Alcoa from $45.00 to $48.00 and gave the company a buy rating in a research note on Thursday, April 18th. Citigroup raised their price target on shares of Alcoa from $32.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. Bank of America lowered their price objective on Alcoa from $46.00 to $43.00 and set a neutral rating for the company in a report on Thursday, July 18th. Finally, BMO Capital Markets increased their target price on shares of Alcoa from $35.00 to $37.00 and gave the stock a market perform rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $38.80.

Alcoa Trading Down 3.1 %

Alcoa stock opened at $32.86 on Monday. The stock has a market cap of $5.90 billion, a PE ratio of -8.74 and a beta of 2.45. Alcoa has a 52 week low of $23.07 and a 52 week high of $45.48. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $40.07 and a 200 day moving average price of $34.67.

Alcoa (NYSE:AA) last announced 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 return on equity of 7.29% and a negative net margin of 5.14%. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous 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. Equities research analysts predict that Alcoa will post 0.96 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, May 20th. Alcoa’s payout ratio is presently -10.64%.

Hedge Funds Weigh In On Alcoa

Large investors have recently made changes to their positions in the business. Spire Wealth Management boosted its position in shares of Alcoa by 252.5% during the 1st quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in Alcoa during the 4th quarter worth about $31,000. Private Wealth Management Group LLC bought a new position in Alcoa in the 4th quarter worth approximately $33,000. Quent Capital LLC lifted its stake in shares of Alcoa by 64.2% during the fourth quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 387 shares during the period. Finally, Scarborough Advisors LLC bought a new position in shares of Alcoa in the 4th quarter valued at about $39,000.

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.