Alcoa Inc. (NYSE:AA)‘s stock had its “buy” rating restated by equities research analysts at Bank of America Corp. in a report issued on Wednesday. They currently have a $33.00 target price on the stock. Bank of America Corp.’s price target would suggest a potential upside of 18.24% from the stock’s current price.
A number of other brokerages have also issued reports on AA. Goldman Sachs Group Inc. set a $30.00 target price on Alcoa and gave the stock a “hold” rating in a research report on Monday. Credit Suisse Group AG set a $39.00 target price on Alcoa and gave the stock a “buy” rating in a research report on Saturday. Royal Bank Of Canada dropped their target price on Alcoa to $31.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price objective on shares of Alcoa in a report on Friday, July 15th. Finally, Argus reissued a “hold” rating on shares of Alcoa in a report on Friday, July 15th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.20.
Alcoa (NYSE:AA) opened at 27.91 on Wednesday. The company’s 50-day moving average price is $29.84 and its 200 day moving average price is $29.85. The stock’s market capitalization is $12.24 billion. Alcoa has a 12 month low of $18.42 and a 12 month high of $34.50.
Alcoa (NYSE:AA) last announced its earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.21. Alcoa had a positive return on equity of 3.44% and a negative net margin of 1.45%. The business had revenue of $5.21 billion for the quarter. During the same period in the previous year, the firm posted $0.07 earnings per share. The firm’s revenue was down 6.5% compared to the same quarter last year. On average, analysts forecast that Alcoa will post $0.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be given a $0.03 dividend. The ex-dividend date is Wednesday, November 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.43%. Alcoa’s dividend payout ratio (DPR) is -42.85%.
In related news, Director Ulrich Schmidt purchased 5,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were bought at an average price of $10.40 per share, with a total value of $52,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $104,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cupps Capital Management LLC bought a new position in Alcoa during the first quarter valued at about $109,000. Citizens Financial Group Inc RI boosted its position in Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock valued at $109,000 after buying an additional 1,401 shares in the last quarter. AXA bought a new position in Alcoa during the first quarter valued at about $115,000. QUANTRES ASSET MANAGEMENT Ltd bought a new position in Alcoa during the second quarter valued at about $121,000. Finally, Savant Capital LLC boosted its position in Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock valued at $122,000 after buying an additional 2,360 shares in the last quarter.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
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