Alcoa (NYSE:AA) Upgraded by Wolfe Research to Peer Perform

Wolfe Research upgraded shares of Alcoa (NYSE:AA) from an underperform rating to a peer perform rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports.

AA has been the topic of several other reports. B. Riley raised their price target on Alcoa from $39.00 to $43.00 and gave the company a neutral rating in a research report on Thursday, July 18th. BMO Capital Markets raised their price target on Alcoa from $35.00 to $37.00 and gave the company a market perform rating in a research report on Thursday, April 18th. Morgan Stanley lowered their price target on Alcoa from $50.00 to $48.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. Bank of America decreased their target price on Alcoa from $46.00 to $43.00 and set a neutral rating on the stock in a research report on Thursday, July 18th. Finally, UBS Group lifted their target price on Alcoa from $27.00 to $32.00 and gave the stock a sell rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Alcoa has a consensus rating of Hold and a consensus price target of $38.80.

Alcoa Price Performance

Alcoa stock opened at $29.47 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. Alcoa has a one year low of $23.07 and a one year high of $45.48. The company’s fifty day moving average price is $38.72 and its two-hundred day moving average price is $34.70.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted ($0.35) earnings per share. As a group, analysts anticipate that Alcoa will post 0.7 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Monday, August 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Monday, August 12th. Alcoa’s dividend payout ratio (DPR) is currently -10.64%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Regal Partners Ltd acquired a new stake in shares of Alcoa in the second quarter valued at approximately $242,000. Natixis Advisors LLC acquired a new stake in shares of Alcoa in the second quarter valued at approximately $787,000. Picton Mahoney Asset Management acquired a new stake in shares of Alcoa in the second quarter valued at approximately $6,146,000. Van ECK Associates Corp increased its holdings in shares of Alcoa by 48.7% in the second quarter. Van ECK Associates Corp now owns 189,203 shares of the industrial products company’s stock valued at $7,526,000 after purchasing an additional 61,985 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Alcoa by 414.3% in the second quarter. Commonwealth Equity Services LLC now owns 313,143 shares of the industrial products company’s stock valued at $12,457,000 after purchasing an additional 252,261 shares in the last quarter.

Alcoa Company Profile

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.