Alcoa's (AA) "Underperform" Rating Reiterated at Bank of America

Bank of America reaffirmed their underperform rating on shares of Alcoa (NYSE:AA - Free Report) in a report issued on Tuesday, MarketBeat Ratings reports. They currently have a $26.00 target price on the industrial products company's stock, down from their prior target price of $58.00.

A number of other research analysts have also recently commented on AA. Jefferies Financial Group decreased their price target on Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. HC Wainwright raised their price objective on shares of Alcoa to $90.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. B. Riley raised Alcoa to a "strong-buy" rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on Alcoa from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Finally, BMO Capital Markets boosted their price objective on Alcoa to $43.00 and gave the company a "hold" rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Alcoa presently has a consensus rating of "Moderate Buy" and an average price target of $46.25.

Alcoa Trading Up 4.3 %

Shares of AA traded up $1.02 during midday trading on Tuesday, reaching $24.77. The company had a trading volume of 7,471,819 shares, compared to its average volume of 5,463,116. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77. The stock has a market cap of $6.41 billion, a PE ratio of -154.78, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28. The firm has a 50 day simple moving average of $32.27 and a 200-day simple moving average of $37.45. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Research analysts forecast that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.62%. Alcoa's dividend payout ratio is presently -250.00%.

Institutional Trading of Alcoa

A number of institutional investors have recently added to or reduced their stakes in AA. Retirement Systems of Alabama lifted its position in shares of Alcoa by 41.6% during the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company's stock valued at $12,107,000 after acquiring an additional 92,201 shares during the period. Geode Capital Management LLC raised its holdings in Alcoa by 42.0% during the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company's stock worth $161,838,000 after purchasing an additional 1,239,479 shares during the last quarter. Impala Asset Management LLC purchased a new stake in Alcoa during the third quarter worth $6,366,000. HB Wealth Management LLC acquired a new stake in Alcoa in the fourth quarter valued at $211,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Alcoa in the fourth quarter valued at $454,000. Hedge funds and other institutional investors own 82.39% of the company's stock.

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.