Analysts Set Alcoa Co. (NYSE:AA) Target Price at $46.73

Shares of Alcoa Co. (NYSE:AA) have earned an average rating of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $46.73.

A number of equities research analysts have issued reports on AA shares. BMO Capital Markets raised their price target on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. UBS Group raised 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 target on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Bank of America upped their target price on Alcoa to $58.00 and gave the company a “buy” rating in a report on Thursday, November 28th.

Insider Buying and Selling

In related news, EVP Renato Bacchi sold 23,867 shares of the company’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 in the company, valued at $2,423,935.93. The trade was a 29.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AA. Mountaineer Partners Management LLC grew its holdings in shares of Alcoa by 4,023.0% during 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 buying an additional 10,534,036 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Alcoa in the 2nd quarter worth $93,061,000. State Street Corp raised its stake 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 purchasing an additional 1,805,915 shares during the last quarter. Paloma Partners Management Co lifted its holdings in shares of Alcoa by 11,317.8% during 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 in the last quarter. Finally, Marshall Wace LLP increased its holdings in Alcoa by 770.9% in the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock worth $56,599,000 after buying an additional 1,259,430 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

Alcoa Trading Down 0.1 %

NYSE AA opened at $38.44 on Friday. The firm has a market cap of $9.93 billion, a PE ratio of -21.84, a price-to-earnings-growth ratio of 0.79 and a beta of 2.44. Alcoa has a 1-year low of $24.86 and a 1-year high of $47.77. The stock has a 50-day moving average of $42.64 and a 200-day moving average of $38.18. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA) last announced its quarterly earnings data 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 firm 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 company posted ($1.14) earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts forecast that Alcoa will post 0.9 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 1.04%. 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.