Alcoa (NYSE:AA) Given New $45.00 Price Target at Jefferies Financial Group

Alcoa (NYSE:AA) had its price objective decreased by Jefferies Financial Group from $50.00 to $45.00 in a research note released on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the industrial products company’s stock.

AA has been the topic of several other research reports. Bank of America boosted their price target on Alcoa to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 28th. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Morgan Stanley lifted their price target on Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets increased their price objective on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Finally, B. Riley Financial reaffirmed a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.45.

Alcoa Trading Down 1.0 %

NYSE:AA opened at $35.89 on Monday. Alcoa has a 1 year low of $24.86 and a 1 year high of $47.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The stock has a fifty day moving average price of $41.47 and a two-hundred day moving average price of $37.89. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of -20.39, a PEG ratio of 0.79 and a beta of 2.47.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.14) EPS. As a group, sell-side analysts anticipate that Alcoa will post 0.9 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 1.11%. Alcoa’s payout ratio is currently -22.73%.

Insider Buying and Selling at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the transaction, the executive vice president now owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.08% of the stock is currently owned by insiders.

Institutional Trading of Alcoa

A number of institutional investors and hedge funds have recently made changes to their positions in the company. 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 stake in shares of Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 631 shares in the last quarter. Quarry LP purchased a new stake in shares of Alcoa during the 3rd quarter worth about $43,000. Continuum Advisory LLC increased its position in Alcoa by 1,945.5% during the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 1,070 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Alcoa by 399.0% in the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after buying an additional 1,157 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

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.