Brokerages Set Alcoa (NYSE:AA) PT at $41.23

Shares of Alcoa (NYSE:AA) have been assigned a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $41.23.

A number of research firms have recently commented on AA. Bank of America boosted their target price on shares of Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. reduced their target price on shares of Alcoa from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, July 17th. B. Riley reduced their target price on shares of Alcoa from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, July 15th. Morgan Stanley reduced their target price on shares of Alcoa from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Finally, UBS Group reissued a “neutral” rating and set a $31.00 target price on shares of Alcoa in a research report on Thursday, May 15th.

Alcoa Price Performance

AA opened at $30.13 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The company has a 50 day moving average of $29.30 and a two-hundred day moving average of $30.58. The company has a market cap of $7.80 billion, a P/E ratio of 7.87, a P/E/G ratio of 0.17 and a beta of 2.25.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.27%. The business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the company posted $0.16 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Tuesday, August 12th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.33%. Alcoa’s dividend payout ratio is presently 10.44%.

Institutional Trading of Alcoa

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Alcoa in the fourth quarter valued at $259,273,000. Dimensional Fund Advisors LP raised its holdings in shares of Alcoa by 33.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company’s stock worth $207,490,000 after purchasing an additional 1,721,222 shares during the period. Geode Capital Management LLC raised its holdings in shares of Alcoa by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company’s stock worth $159,966,000 after purchasing an additional 39,022 shares during the period. Northern Trust Corp raised its holdings in shares of Alcoa by 46.8% during the fourth quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company’s stock worth $96,324,000 after purchasing an additional 813,214 shares during the period. Finally, Sourcerock Group LLC raised its holdings in shares of Alcoa by 319.1% during the fourth quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company’s stock worth $74,729,000 after purchasing an additional 1,506,009 shares during the period.

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.