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

Shares of Alcoa Co. (NYSE:AA) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $44.75.

AA has been the subject of a number of research analyst reports. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and increased their price target for the company from $43.00 to $52.00 in a research note on Tuesday, October 1st. UBS Group upped 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. JPMorgan Chase & Co. increased their target price on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. B. Riley Financial reissued a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a report on Tuesday, September 17th. Finally, StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th.

Insider Buying and Selling

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

Institutional Investors Weigh In On Alcoa

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. acquired a new position in Alcoa during the second quarter worth $27,000. UMB Bank n.a. raised its holdings in shares of Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 631 shares during the period. Quarry LP acquired a new position in shares of Alcoa during the 3rd quarter valued at about $43,000. Continuum Advisory LLC boosted its position in shares of Alcoa by 1,945.5% during the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 1,070 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Alcoa by 1,501.9% in the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,592 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Stock Up 0.4 %

Shares of Alcoa stock opened at $47.42 on Wednesday. Alcoa has a 52-week low of $23.80 and a 52-week high of $47.77. The firm’s 50 day moving average price is $40.73 and its 200-day moving average price is $38.02. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47. The company has a market cap of $12.25 billion, a P/E ratio of -26.94, a PEG ratio of 0.87 and a beta of 2.42.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.14) earnings per share. On average, sell-side analysts predict that Alcoa will post 0.89 EPS for the current fiscal year.

Alcoa Announces Dividend

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 $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s dividend payout ratio is currently -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.