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

Shares of Alcoa (NYSE:AA – Get Free Report) have earned a consensus recommendation of “Hold” from the thirteen brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $61.42.

A number of research firms have issued reports on AA. BMO Capital Markets cut their price target on Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a research note on Friday, July 17th. B. Riley Financial lowered their price objective on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. JPMorgan Chase & Co. dropped their price objective on shares of Alcoa from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Morgan Stanley restated an “equal weight” rating and set a $53.00 target price (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada set a $70.00 target price on shares of Alcoa in a report on Wednesday, July 1st.

Get Our Latest Stock Report on Alcoa

Insiders Place Their Bets

In related news, EVP Tammi A. Jones sold 15,628 shares of Alcoa stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total transaction of $790,776.80. Following the transaction, the executive vice president directly owned 39,819 shares in the company, valued at approximately $2,014,841.40. The trade was a 28.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Renato Bacchi sold 700 shares of the business’s 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 sale, the executive vice president directly owned 74,930 shares of the company’s stock, valued at $3,822,928.60. This represents a 0.93% decrease in their position. The disclosure for this sale is available in the SEC filing.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Alcoa in the 2nd quarter worth $1,528,523,000. Geode Capital Management LLC raised its holdings in Alcoa by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company’s stock valued at $389,621,000 after acquiring an additional 349,426 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Alcoa by 211.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock valued at $332,338,000 after acquiring an additional 4,247,559 shares in the last quarter. Castle Hook Partners LP purchased a new position in shares of Alcoa in the fourth quarter valued at about $210,874,000. Finally, Amundi boosted its stake in shares of Alcoa by 47.8% in the first quarter. Amundi now owns 2,009,013 shares of the industrial products company’s stock worth $133,258,000 after acquiring an additional 649,693 shares during the period.

Alcoa Stock Performance

AA stock opened at $42.27 on Friday. The company has a market cap of $11.16 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of 0.48 and a beta of 1.63. Alcoa has a 1 year low of $31.98 and a 1 year high of $84.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. The stock’s fifty day moving average price is $47.95 and its 200-day moving average price is $57.89.

Alcoa (NYSE:AA – Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the firm earned $0.39 EPS. On average, equities analysts forecast that Alcoa will post 6.61 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, August 11th. Alcoa’s dividend payout ratio (DPR) is currently 8.23%.

Alcoa Company Profile

(Get Free Report)

Alcoa Corporation (NYSE:AA) is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of select value-added aluminum products. The company serves customers in industries such as transportation, aerospace, construction, packaging, consumer products and energy.

Founded in 1888 as the Pittsburgh Reduction Company, Alcoa played a major role in developing the commercial aluminum industry and adopted the Alcoa name in 1907.

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Analyst Recommendations for Alcoa (NYSE:AA)

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