Alcoa Co. (NYSE:AA) Receives $46.45 Average PT from Brokerages

Shares of Alcoa Co. (NYSE:AA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eleven brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $46.45.

Several research firms recently issued reports on AA. B. Riley Financial reissued a "neutral" rating and issued a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. BMO Capital Markets boosted their price objective on shares of Alcoa from $42.00 to $45.00 and gave the company a "market perform" rating in a research note on Thursday, October 17th. B. Riley raised Alcoa from a "neutral" rating to a "buy" rating and increased their target price for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on Alcoa from $36.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Finally, Morgan Stanley raised their price objective on Alcoa from $48.00 to $49.00 and gave the stock an "overweight" rating in a report on Friday, October 18th.

Alcoa Trading Down 1.0 %

Shares of NYSE:AA traded down $0.35 during trading on Thursday, reaching $35.89. The stock had a trading volume of 3,770,883 shares, compared to its average volume of 4,666,336. Alcoa has a fifty-two week low of $24.86 and a fifty-two week high of $47.77. The business has a fifty day moving average price of $41.38 and a 200-day moving average price of $37.87. The stock has a market cap of $9.27 billion, a P/E ratio of -20.39, a PEG ratio of 0.79 and a beta of 2.47. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.34. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the business earned ($1.14) earnings per share. The business's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts anticipate that Alcoa will post 0.9 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.11%. The ex-dividend date was Tuesday, October 29th. Alcoa's dividend payout ratio (DPR) is -22.73%.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the transaction, the executive vice president now owns 57,317 shares of the company's stock, valued at $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AA. Newbridge Financial Services Group Inc. bought a new position in Alcoa in the 2nd quarter worth approximately $27,000. UMB Bank n.a. raised its stake in shares of Alcoa by 481.7% during the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 631 shares in the last quarter. Quarry LP acquired a new stake in Alcoa in the third quarter worth about $43,000. Continuum Advisory LLC grew its position in Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company's stock valued at $46,000 after buying an additional 1,070 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Alcoa by 399.0% during the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company's stock valued at $55,000 after buying an additional 1,157 shares during the period. 82.39% of the stock is currently owned by institutional investors.

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.