Alcoa Co. (NYSE:AA) Receives $44.75 Consensus Target Price from Analysts

Alcoa Co. (NYSE:AA) has received an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $44.75.

AA has been the subject of several recent analyst reports. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. lifted their price objective on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. UBS Group increased their target price on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Morgan Stanley upped 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. Finally, Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Wednesday, October 23rd.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 57,317 shares of the company’s stock, valued at $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AA. Mountaineer Partners Management LLC grew its position in shares of Alcoa by 4,023.0% in the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after purchasing an additional 10,534,036 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in shares of Alcoa during the 2nd quarter valued at about $93,061,000. L1 Capital Pty Ltd purchased a new position in shares of Alcoa during the 1st quarter worth about $72,658,000. State Street Corp boosted its position in shares of Alcoa by 23.3% in the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock worth $368,965,000 after acquiring an additional 1,805,915 shares during the last quarter. Finally, Paloma Partners Management Co grew its holdings in Alcoa by 11,317.8% in the third quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock valued at $55,084,000 after purchasing an additional 1,415,294 shares during the period.

Alcoa Price Performance

Shares of NYSE:AA opened at $45.47 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. Alcoa has a one year low of $23.80 and a one year high of $46.60. The company has a 50-day simple moving average of $40.47 and a 200-day simple moving average of $37.95. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of -25.84, a PEG ratio of 0.89 and a beta of 2.42.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the business posted ($1.14) EPS. The company’s revenue was up 11.6% on a year-over-year basis. On average, analysts predict that Alcoa will post 0.89 EPS for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s payout ratio is -22.73%.

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.