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

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

A number of other equities analysts have also commented on the stock. StockNews.com upgraded shares of Alcoa from a sell rating to a hold rating in a report on Thursday, July 18th. Wolfe Research upgraded shares of Alcoa from a peer perform rating to an outperform rating and set a $36.00 price objective on the stock in a report on Wednesday, September 4th. Morgan Stanley cut their price objective on shares of Alcoa from $50.00 to $48.00 and set an overweight rating on the stock in a report on Monday, July 22nd. B. Riley boosted their price objective on shares of Alcoa from $37.00 to $41.00 and gave the stock a neutral rating in a report on Tuesday, September 17th. Finally, Bank of America cut their price objective on shares of Alcoa from $46.00 to $43.00 and set a neutral rating on the stock in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $40.45.

Alcoa Stock Performance

NYSE:AA opened at $33.83 on Thursday. 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 firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of -9.00 and a beta of 2.42. The firm’s fifty day simple moving average is $32.51 and its 200 day simple moving average is $35.77. Alcoa has a twelve month low of $23.07 and a twelve month high of $45.48.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the business posted ($0.35) EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts expect that Alcoa will post 0.7 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

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

Institutional Investors Weigh In On Alcoa

A number of institutional investors have recently modified their holdings of AA. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Alcoa in the second quarter valued at approximately $296,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Alcoa in the second quarter valued at approximately $27,000. Sanctuary Advisors LLC acquired a new stake in shares of Alcoa in the second quarter valued at approximately $304,000. Senator Investment Group LP acquired a new stake in shares of Alcoa in the second quarter valued at approximately $8,610,000. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of Alcoa in the second quarter valued at approximately $102,000. Institutional investors 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.