Alcoa (NYSE:AA) Stock Has Consensus Price Target of $58.23 According to Analysts

Shares of Alcoa (NYSE:AA) have received a consensus rating of “Hold” from the thirteen analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $58.23.

AA has been the subject of several analyst reports. Argus lowered Alcoa from a “buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Wall Street Zen lowered Alcoa from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 25th. Freedom Broker decreased their price target on Alcoa from $76.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Citigroup decreased their price target on Alcoa from $76.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Finally, JPMorgan Chase & Co. lowered their price objective on Alcoa from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th.

Insider Buying and Selling

In other Alcoa news, EVP Tammi Jones sold 15,628 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $50.60, for a total transaction of $790,776.80. Following the completion of the sale, the executive vice president owned 39,819 shares of the company’s stock, valued at approximately $2,014,841.40. This represents a 28.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Renato Bacchi sold 700 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $51.02, for a total transaction of $35,714.00. Following the transaction, the executive vice president owned 74,930 shares of the company’s stock, valued at approximately $3,822,928.60. The trade was a 0.93% decrease in their position. The SEC filing for this sale provides additional information.

Hedge Funds Weigh In On Alcoa

A number of hedge funds have recently bought and sold shares of AA. BlackRock Inc. bought a new position in Alcoa during the second quarter worth $1,528,523,000. State Street Corp boosted its position in Alcoa by 15.6% during the third quarter. State Street Corp now owns 12,567,463 shares of the industrial products company’s stock valued at $527,833,000 after acquiring an additional 1,691,518 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Alcoa during the second quarter valued at $166,194,000. Amundi boosted its position in Alcoa by 47.8% during the first quarter. Amundi now owns 2,009,013 shares of the industrial products company’s stock valued at $133,258,000 after acquiring an additional 649,693 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. boosted its position in Alcoa by 74.7% during the second quarter. Maple Rock Capital Partners Inc. now owns 1,577,720 shares of the industrial products company’s stock valued at $82,262,000 after acquiring an additional 674,400 shares during the last quarter.

Alcoa Trading Down 1.7%

Shares of AA stock traded down $0.70 during trading hours on Friday, hitting $39.75. 2,783,602 shares of the company’s stock traded hands, compared to its average volume of 5,158,325. The stock has a market cap of $10.49 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 0.59 and a beta of 1.83. The stock’s 50 day simple moving average is $42.54 and its 200 day simple moving average is $55.32. The company has a quick ratio of 1.66, a current ratio of 2.31 and a debt-to-equity ratio of 0.58. Alcoa has a 12 month low of $35.12 and a 12 month high of $84.38.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, October 15th. The industrial products company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.31. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Alcoa had a net margin of 10.77% and a return on equity of 24.58%. Alcoa’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, sell-side analysts anticipate that Alcoa will post 6.70 EPS for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 13th. Investors of record on Tuesday, October 27th were issued a $0.10 dividend. The ex-dividend date was Tuesday, October 27th. This represents a $0.40 annualized dividend and a yield of 1.0%. Alcoa’s dividend payout ratio is presently 6.91%.

Alcoa Company Profile

Alcoa Corporation is an integrated aluminum company involved in bauxite mining, alumina refining and primary aluminum production. Its products include bauxite, alumina and aluminum in forms used by customers across industries such as transportation, packaging, construction and consumer goods. The company operates internationally, with activities spanning North America, South America, Europe and Australia. Its business connects raw-material production with refining and smelting, serving customers in markets around the world.