Alcoa (NYSE:AA) Price Target Increased to $45.00 by Analysts at BMO Capital Markets

Alcoa (NYSE:AA - Free Report) had its target price hoisted by BMO Capital Markets from $42.00 to $45.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a market perform rating on the industrial products company's stock.

Several other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Alcoa from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st. B. Riley upgraded shares of Alcoa from a "neutral" rating to a "buy" rating and increased their price target for the company from $41.00 to $50.00 in a research report on Thursday. B. Riley Financial restated a "neutral" rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. Morgan Stanley reduced their price target on shares of Alcoa from $50.00 to $48.00 and set an "overweight" rating for the company in a research report on Monday, July 22nd. Finally, Wolfe Research upgraded shares of Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 price target for the company in a research report on Wednesday, September 4th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $44.36.

Alcoa Stock Down 4.1 %

Shares of NYSE AA traded down $1.74 during trading on Thursday, hitting $40.33. The stock had a trading volume of 11,247,729 shares, compared to its average volume of 5,994,032. Alcoa has a 12 month low of $23.07 and a 12 month high of $45.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The company has a market capitalization of $7.24 billion, a PE ratio of -10.73 and a beta of 2.42. The firm has a fifty day moving average of $34.74 and a two-hundred day moving average of $36.74.

Alcoa (NYSE:AA - Get Free Report) last posted its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.34. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the business posted ($1.14) EPS. The business's revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Alcoa will post 0.29 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Tuesday, October 29th. Alcoa's payout ratio is -10.64%.

Institutional Investors Weigh In On Alcoa

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Alcoa by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company's stock worth $265,132,000 after buying an additional 390,930 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Alcoa in the second quarter worth about $93,061,000. L1 Capital Pty Ltd purchased a new stake in Alcoa in the first quarter valued at approximately $72,658,000. Capital Research Global Investors raised its stake in Alcoa by 29.8% in the first quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company's stock valued at $69,869,000 after purchasing an additional 475,000 shares in the last quarter. Finally, ARGA Investment Management LP raised its stake in Alcoa by 202.2% in the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company's stock valued at $50,399,000 after purchasing an additional 997,912 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

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.