Analysts Set Alcoa Co. (NYSE:AA) Target Price at $44.75

Shares of Alcoa Co. (NYSE:AA) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $44.75.

Several equities research analysts recently weighed in on AA shares. B. Riley Financial reissued a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their target price on Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the company from $41.00 to $50.00 in a research report on Thursday, October 17th. Finally, Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research report on Wednesday, September 4th.

Alcoa Trading Down 2.2 %

NYSE AA opened at $45.44 on Wednesday. Alcoa has a 12 month low of $23.80 and a 12 month high of $46.60. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average price is $40.47 and its 200-day moving average price is $37.94. The stock has a market cap of $11.74 billion, a P/E ratio of -25.82, a P/E/G ratio of 0.87 and a beta of 2.42.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.23 by $0.34. The company had revenue of $2.90 billion for 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%. Alcoa’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.14) EPS. As a group, equities analysts forecast that Alcoa will post 0.89 EPS for the current fiscal year.

Alcoa Dividend Announcement

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

Insider Activity

In related news, EVP Renato Bacchi sold 23,867 shares of the 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 sale, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AA. Fifth Third Bancorp raised its position in shares of Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after buying an additional 309 shares during the last quarter. Blue Trust Inc. increased its holdings in Alcoa by 12.0% in the 3rd quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company’s stock valued at $128,000 after acquiring an additional 344 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in Alcoa by 4.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company’s stock worth $352,000 after purchasing an additional 360 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Alcoa by 1.4% during the 2nd quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock valued at $1,073,000 after purchasing an additional 368 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in shares of Alcoa by 15.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,452 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 459 shares during the last quarter.

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.