Alcoa (NYSE:AA) Receives $50.45 Average Target Price from Brokerages
by Kim Johansen · The Markets DailyAlcoa (NYSE:AA – Get Free Report) has received an average recommendation of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $50.4545.
A number of equities analysts have weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $52.00 target price on shares of Alcoa in a research note on Monday, December 15th. Wells Fargo & Company set a $68.00 target price on shares of Alcoa in a research note on Thursday, March 12th. Zacks Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. B. Riley Financial restated a “buy” rating on shares of Alcoa in a report on Friday, January 23rd. Finally, Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a report on Saturday, February 21st.
View Our Latest Analysis on Alcoa
Alcoa Price Performance
AA stock opened at $70.91 on Friday. Alcoa has a 1 year low of $21.53 and a 1 year high of $72.24. The company has a market cap of $18.71 billion, a P/E ratio of 16.04 and a beta of 1.70. The firm has a 50-day moving average of $61.77 and a 200 day moving average of $50.52. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 0.87.
Alcoa (NYSE:AA – Get Free Report) last released its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.31. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $3.28 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. Alcoa’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.04 earnings per share. On average, sell-side analysts forecast that Alcoa will post 4.43 EPS for the current year.
Alcoa Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, March 10th. Alcoa’s payout ratio is currently 9.05%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in Alcoa by 455.9% in the 3rd quarter. Pacer Advisors Inc. now owns 62,982 shares of the industrial products company’s stock worth $2,071,000 after purchasing an additional 51,652 shares during the period. Nordea Investment Management AB lifted its position in Alcoa by 187.7% in the fourth quarter. Nordea Investment Management AB now owns 408,624 shares of the industrial products company’s stock worth $21,902,000 after buying an additional 266,574 shares during the last quarter. Regal Partners Ltd lifted its position in Alcoa by 7.0% in the third quarter. Regal Partners Ltd now owns 451,940 shares of the industrial products company’s stock worth $14,864,000 after buying an additional 29,612 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in Alcoa in the third quarter worth $5,606,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in Alcoa in the third quarter worth $1,144,000. 82.39% of the stock is currently owned by institutional investors.
About Alcoa
Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.
Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.