Alcoa (NYSE:AA – Free Report) had its target price cut by B. Riley Financial from $80.00 to $63.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.
AA has been the topic of a number of other research reports. Royal Bank Of Canada set a $70.00 target price on shares of Alcoa in a research report on Wednesday, July 1st. JPMorgan Chase & Co. decreased their target price on shares of Alcoa from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Bank of America lowered their price target on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a report on Thursday, July 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alcoa in a research note on Monday, September 14th. Finally, Argus dropped their price target on Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $58.23.
Read Our Latest Research Report on AA
Alcoa Stock Down 5.2%
AA stock opened at $38.62 on Tuesday. The firm has a 50-day moving average price of $46.02 and a 200-day moving average price of $55.15. Alcoa has a 12 month low of $35.12 and a 12 month high of $84.38. The company has a current ratio of 2.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $10.19 billion, a P/E ratio of 6.67, a price-to-earnings-growth ratio of 0.60 and a beta of 1.74.
Alcoa (NYSE:AA – Get Free Report) last announced its quarterly earnings results on Thursday, October 15th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.31. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. Alcoa had a net margin of 10.77% and a return on equity of 24.58%. The firm’s revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS. As a group, equities research analysts anticipate that Alcoa will post 6.65 EPS for the current fiscal year.
Alcoa Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 27th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 27th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Alcoa’s dividend payout ratio is currently 6.91%.
Insider Activity at Alcoa
In related news, EVP Renato Bacchi sold 700 shares of Alcoa stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $51.02, for a total transaction of $35,714.00. Following the sale, the executive vice president directly owned 74,930 shares in the company, valued at $3,822,928.60. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tammi A. Jones sold 15,628 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 39,819 shares in the company, valued at $2,014,841.40. The trade was a 28.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.
Hedge Funds Weigh In On Alcoa
Large investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Alcoa during the second quarter worth $25,000. Western Wealth Management LLC bought a new stake in shares of Alcoa in the first quarter worth $35,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 581 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Alcoa in the first quarter worth $53,000. Finally, Root Financial Partners LLC acquired a new stake in Alcoa in the third quarter valued at $42,000.
More Alcoa News
Here are the key news stories impacting Alcoa this week:
- Positive Sentiment: Alcoa’s reported average analyst price target is $58.23, substantially above the current share price, suggesting potential upside if aluminum pricing and margins stabilize. Alcoa Stock Has Average Price Target of $58.23
- Neutral Sentiment: Morgan Stanley maintained a Hold rating on Alcoa, indicating limited conviction that the stock’s risk-reward profile has improved enough to warrant a more bullish stance. Alcoa Gets a Hold from Morgan Stanley
- Neutral Sentiment: Argus separately reaffirmed its Hold rating, underscoring a cautious consensus despite the firm’s reported downgrade-related concerns. Argus Alcoa Rating
- Negative Sentiment: Argus downgraded Alcoa, warning that weaker pricing and rising worldwide aluminum supply could compress near-term margins and profits. The downgrade directly contributed to the shares’ decline. Alcoa Shares Fall After Argus Downgrade
- Negative Sentiment: Citigroup, B. Riley Financial, and Freedom Broker each issued or maintained more pessimistic expectations for Alcoa’s stock, adding to the broader analyst caution surrounding the company. Citigroup Forecast
About Alcoa
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 value-added aluminum products. These materials serve customers in industries such as transportation, building and construction, packaging, aerospace and industrial manufacturing.
The company operates across multiple regions, with assets and activities in North America, South America, Europe, Australia and other international markets.
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