Alcoa Co. (NYSE:AA) Receives $30.88 Average Target Price from Brokerages

Shares of Alcoa Co. (NYSE:AA) have earned an average recommendation of “Hold” from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $30.88.

Several equities analysts have issued reports on the company. UBS Group assumed coverage on Alcoa in a research note on Tuesday, January 16th. They issued a “sell” rating and a $29.00 price target on the stock. Bank of America boosted their price target on Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. boosted their price target on Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Morgan Stanley boosted their price target on Alcoa from $27.00 to $29.50 and gave the company an “underweight” rating in a research note on Thursday, January 18th. Finally, BMO Capital Markets lowered their target price on Alcoa from $30.00 to $29.00 and set a “market perform” rating on the stock in a research report on Thursday, January 18th.

Alcoa Stock Performance

Shares of AA stock opened at $36.57 on Tuesday. The business’s 50 day simple moving average is $30.48 and its 200 day simple moving average is $28.88. Alcoa has a one year low of $23.07 and a one year high of $42.23. The stock has a market capitalization of $6.57 billion, a PE ratio of -10.02, a PEG ratio of 2.39 and a beta of 2.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.45 and a quick ratio of 0.74.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, January 17th. The industrial products company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.29. Alcoa had a negative return on equity of 6.56% and a negative net margin of 6.17%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period in the prior year, the business posted ($0.70) earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. As a group, research analysts forecast that Alcoa will post 0.31 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, March 4th. Alcoa’s payout ratio is currently -10.96%.

Insider Activity at Alcoa

In related news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the sale, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AA. Neo Ivy Capital Management bought a new position in Alcoa in the 2nd quarter valued at $27,000. Fairfield Bush & CO. bought a new position in shares of Alcoa during the 1st quarter worth $29,000. Tennessee Valley Asset Management Partners bought a new position in shares of Alcoa during the 4th quarter worth $31,000. Resurgent Financial Advisors LLC bought a new position in shares of Alcoa during the 4th quarter worth $32,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Alcoa during the 4th quarter worth $33,000.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.