Alcoa (NYSE:AA) Stock Has Consensus Target Price of $61.42 According to Brokerages

Alcoa (NYSE:AA) has been assigned a consensus recommendation of “Hold” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $61.42.

Several brokerages recently issued reports on AA. Argus reduced their price objective on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Wells Fargo & Company lowered their target price on shares of Alcoa from $71.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, September 18th. Zacks Research upgraded Alcoa from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Royal Bank Of Canada set a $70.00 price target on Alcoa in a report on Wednesday, July 1st. Finally, Morgan Stanley reissued an “equal weight” rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th.

Insider Transactions at Alcoa

In other Alcoa news, EVP Tammi Jones sold 15,628 shares of Alcoa stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $50.60, for a total value of $790,776.80. Following the completion of the sale, the executive vice president owned 39,819 shares in the company, valued at $2,014,841.40. The trade was a 28.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Renato Bacchi sold 700 shares of Alcoa stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $51.02, for a total value of $35,714.00. Following the completion of the sale, the executive vice president owned 74,930 shares of the company’s stock, valued at $3,822,928.60. This trade represents a 0.93% decrease in their position. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On Alcoa

A number of institutional investors have recently bought and sold shares of AA. Basepoint Wealth LLC acquired a new position in shares of Alcoa in the 4th quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Alcoa during the 2nd quarter worth $25,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after buying an additional 581 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of Alcoa in the 1st quarter worth $35,000. Finally, REAP Financial Group LLC raised its position in shares of Alcoa by 3,241.7% in the 4th quarter. REAP Financial Group LLC now owns 802 shares of the industrial products company’s stock worth $43,000 after buying an additional 778 shares during the period.

Alcoa Trading Up 0.1%

Alcoa stock opened at $42.02 on Friday. The stock has a 50-day moving average price of $47.82 and a 200 day moving average price of $57.55. Alcoa has a 52 week low of $32.85 and a 52 week high of $84.38. The stock has a market cap of $11.09 billion, a PE ratio of 8.65, a P/E/G ratio of 0.47 and a beta of 1.63. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30.

Alcoa (NYSE:AA) last released its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter last year, the company posted $0.39 earnings per share. Equities research analysts predict that Alcoa will post 6.61 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.40 annualized dividend and a yield of 1.0%. Alcoa’s dividend payout ratio is 8.23%.

About Alcoa

Alcoa Corporation (NYSE:AA) is a global producer of aluminum and an integrated participant in the aluminum industry. Its operations span the value chain from bauxite mining and alumina refining to aluminum smelting, casting and recycling.

The company supplies aluminum products used in transportation, building and construction, packaging, aerospace, automotive, electrical and other industrial applications. Its portfolio includes primary aluminum, alumina, aluminum billets and other cast products, as well as low-carbon and recycled aluminum offerings.

Alcoa traces its origins to the Pittsburgh Reduction Company, founded in 1888, and has helped develop the modern aluminum industry.