Alcoa (NYSE:AA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Alcoa (NYSE:AA) have earned a consensus recommendation of “Hold” from the twelve research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $61.0909.

A number of research analysts have recently commented on AA shares. Royal Bank Of Canada set a $70.00 target price on shares of Alcoa in a report on Wednesday, July 1st. JPMorgan Chase & Co. decreased their price target 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. BMO Capital Markets lowered their price objective on shares of Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, July 17th. Bank of America dropped their price objective on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research note on Thursday, July 9th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $53.00 target price (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th.

Institutional Investors Weigh In On Alcoa

Hedge funds have recently modified their holdings of the company. Checchi Capital Advisers LLC increased its holdings in Alcoa by 3.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 170 shares in the last quarter. Essential Partners LLC raised its position in Alcoa by 0.9% in the first quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company’s stock valued at $1,361,000 after purchasing an additional 193 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of Alcoa by 1.9% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock valued at $568,000 after purchasing an additional 204 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Alcoa by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock valued at $3,079,000 after purchasing an additional 229 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Alcoa by 1.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock valued at $722,000 after purchasing an additional 241 shares in the last quarter.

Alcoa Price Performance

Alcoa stock opened at $49.57 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. Alcoa has a 52 week low of $28.92 and a 52 week high of $84.38. The stock has a market capitalization of $13.08 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 0.58 and a beta of 1.63. The stock has a fifty day moving average of $52.45 and a 200-day moving average of $60.61.

Alcoa (NYSE:AA) last released its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the business earned $0.39 earnings per share. On average, sell-side analysts expect that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, August 11th. Alcoa’s dividend payout ratio is presently 8.23%.

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.