Alcoa Co. (NYSE:AA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Alcoa Co. (NYSE:AA) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $46.73.

A number of equities research analysts recently commented on AA shares. Morgan Stanley increased their price target on Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. UBS Group increased their target price on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price target on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Wednesday, September 4th. Finally, StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th.

Insider Activity at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.08% of the stock is currently owned by corporate insiders.

Institutional Trading of Alcoa

A number of large investors have recently made changes to their positions in AA. Newbridge Financial Services Group Inc. bought a new position in Alcoa during the second quarter worth about $27,000. UMB Bank n.a. raised its position in shares of Alcoa by 481.7% during the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 631 shares during the period. Quarry LP bought a new position in shares of Alcoa during the 3rd quarter valued at about $43,000. Continuum Advisory LLC grew its position in shares of Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,070 shares during the period. Finally, Millburn Ridgefield Corp acquired a new position in shares of Alcoa in the 3rd quarter valued at approximately $89,000. Institutional investors own 82.39% of the company’s stock.

Alcoa Stock Down 1.3 %

Shares of NYSE AA opened at $39.12 on Friday. Alcoa has a 52-week low of $24.86 and a 52-week high of $47.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The business has a fifty day moving average of $42.65 and a two-hundred day moving average of $38.30. The stock has a market cap of $10.11 billion, a PE ratio of -22.23, a PEG ratio of 0.79 and a beta of 2.44.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.34. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted ($1.14) EPS. As a group, equities research analysts expect that Alcoa will post 0.9 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were given a $0.10 dividend. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 1.02%. Alcoa’s dividend payout ratio is currently -22.73%.

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.