Alcoa Co. (NYSE:AA) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Alcoa Co. (NYSE:AA) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $41.64.

Several analysts recently commented on AA shares. UBS Group boosted their price target on Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Morgan Stanley cut their price target on Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. assumed coverage on Alcoa in a research note on Wednesday, September 25th. They issued a “neutral” rating and a $36.00 target price for the company. Bank of America upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $52.00 in a report on Tuesday, October 1st. Finally, Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, September 4th.

Hedge Funds Weigh In On Alcoa

Several institutional investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. purchased a new position in shares of Alcoa in the 2nd quarter valued at about $27,000. Scarborough Advisors LLC acquired a new position in shares of Alcoa during the 4th quarter worth about $39,000. Toronto Dominion Bank increased its holdings in shares of Alcoa by 1,501.9% in the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 1,592 shares during the last quarter. Fifth Third Bancorp raised its holdings in Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 309 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Alcoa during the 1st quarter worth $101,000. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Trading Up 2.5 %

NYSE AA opened at $39.12 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Alcoa has a 12-month low of $23.07 and a 12-month high of $45.48. The stock has a market cap of $7.02 billion, a P/E ratio of -10.40 and a beta of 2.42. The company has a fifty day simple moving average of $33.04 and a two-hundred day simple moving average of $36.22.

Alcoa (NYSE:AA) last posted its earnings results 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. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned ($0.35) EPS. On average, analysts forecast that Alcoa will post 0.56 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were given a dividend of $0.10 per share. The ex-dividend date was Monday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.02%. Alcoa’s dividend payout ratio is presently -10.64%.

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.