Weekly Investment Analysts’ Ratings Updates for Alcoa (AA)

Several brokerages have updated their recommendations and price targets on shares of Alcoa (NYSE: AA) in the last few weeks:

• 10/15/2024 – Alcoa had its price target raised by analysts at UBS Group AG from $40.00 to $50.00. They now have a “buy” rating on the stock.
• 10/1/2024 – Alcoa was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 10/1/2024 – Alcoa was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $52.00 price target on the stock, up previously from $43.00.
• 9/25/2024 – Alcoa is now covered by analysts at JPMorgan Chase & Co.. They set a “neutral” rating and a $36.00 price target on the stock.
• 9/20/2024 – Alcoa was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 9/19/2024 – Alcoa had its price target raised by analysts at UBS Group AG from $38.00 to $40.00. They now have a “buy” rating on the stock.
• 9/17/2024 – Alcoa had its “neutral” rating reaffirmed by analysts at B. Riley Financial, Inc.. They now have a $41.00 price target on the stock.
• 9/17/2024 – Alcoa had its price target raised by analysts at B. Riley from $37.00 to $41.00. They now have a “neutral” rating on the stock.
• 9/4/2024 – Alcoa was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating. They now have a $36.00 price target on the stock.

Alcoa Stock Down 1.2 %

Shares of NYSE AA opened at $41.31 on Wednesday. The company has a market cap of $7.42 billion, a price-to-earnings ratio of -10.99 and a beta of 2.42. 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 Co. has a 12 month low of $23.07 and a 12 month high of $45.48. The stock has a 50-day moving average price of $34.29 and a two-hundred day moving average price of $36.67.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the company earned ($0.35) EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Alcoa Co. will post 0.29 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.97%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Institutional Investors Weigh In On Alcoa

A number of hedge funds and other institutional investors have recently bought and sold shares of AA. Confluence Investment Management LLC bought a new position in shares of Alcoa during the first quarter valued at $351,000. Los Angeles Capital Management LLC bought a new position in Alcoa during the 1st quarter worth $210,000. Banque Cantonale Vaudoise lifted its holdings in Alcoa by 24.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,044 shares of the industrial products company’s stock worth $137,000 after buying an additional 800 shares during the period. Douglas Lane & Associates LLC lifted its holdings in Alcoa by 12.9% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,351,720 shares of the industrial products company’s stock worth $45,675,000 after buying an additional 154,403 shares during the period. Finally, Ballentine Partners LLC bought a new stake in shares of Alcoa in the 1st quarter valued at about $252,000. Institutional investors own 82.39% of the company’s stock.

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.