Alcoa’s (AA) Equal Weight Rating Reaffirmed at Wells Fargo & Company

Wells Fargo & Company reissued their equal weight rating on shares of Alcoa (NYSE:AA) in a research report released on Tuesday morning, Marketbeat reports. They currently have a $71.00 price target on the industrial products company’s stock, up from their prior price target of $58.00.

Other research analysts also recently issued reports about the company. Citigroup boosted their target price on Alcoa from $42.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, December 19th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Alcoa in a research note on Thursday, January 8th. BMO Capital Markets increased their target price on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. UBS Group upped their price target on shares of Alcoa from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Finally, Morgan Stanley restated an “overweight” rating and issued a $52.00 price objective on shares of Alcoa in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.83.

Alcoa Price Performance

Shares of Alcoa stock traded down $0.05 during midday trading on Tuesday, hitting $65.32. 2,753,528 shares of the company were exchanged, compared to its average volume of 8,419,988. The firm has a 50 day simple moving average of $46.97 and a 200-day simple moving average of $37.68. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.56 and a quick ratio of 0.91. The firm has a market cap of $16.92 billion, a P/E ratio of 15.09, a PEG ratio of 0.25 and a beta of 1.95. Alcoa has a 52 week low of $21.53 and a 52 week high of $66.95.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The business’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. Research analysts forecast 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 was paid on Friday, November 21st. Stockholders of record on Tuesday, November 4th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, November 4th. Alcoa’s payout ratio is currently 9.24%.

Institutional Trading of Alcoa

Several institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of Alcoa by 1,096.0% during the second quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 822 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Alcoa during the third quarter worth $27,000. Root Financial Partners LLC acquired a new stake in shares of Alcoa in the third quarter valued at about $29,000. Horrell Capital Management Inc. acquired a new stake in shares of Alcoa in the second quarter valued at about $30,000. Finally, CoreCap Advisors LLC lifted its stake in shares of Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after buying an additional 237 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.