Alcoa (NYSE:AA) Price Target Raised to $41.00 at B. Riley

Alcoa (NYSE:AA) had its price objective hoisted by B. Riley from $37.00 to $41.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Several other research firms have also recently issued reports on AA. Bank of America cut their price target on shares of Alcoa from $46.00 to $43.00 and set a neutral rating for the company in a report on Thursday, July 18th. Wolfe Research raised Alcoa from a peer perform rating to an outperform rating and set a $36.00 price target for the company in a report on Wednesday, September 4th. Morgan Stanley dropped their price objective on Alcoa from $50.00 to $48.00 and set an overweight rating on the stock in a report on Monday, July 22nd. Citigroup increased their price objective on Alcoa from $32.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. Finally, UBS Group raised shares of Alcoa from a sell rating to a buy rating and upped their price target for the stock from $32.00 to $38.00 in a research note on Monday, August 12th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $40.27.

Alcoa Trading Down 1.4 %

NYSE AA opened at $34.00 on Tuesday. Alcoa has a one year low of $23.07 and a one year high of $45.48. The firm has a market cap of $6.11 billion, a PE ratio of -9.04 and a beta of 2.42. The firm’s fifty day moving average is $32.90 and its two-hundred day moving average is $35.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the firm posted ($0.35) EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts expect that Alcoa will post 0.7 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. Alcoa’s payout ratio is -10.64%.

Hedge Funds Weigh In On Alcoa

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AA. Newbridge Financial Services Group Inc. acquired a new position in shares of Alcoa in the second quarter worth $27,000. Spire Wealth Management raised its stake in Alcoa by 252.5% in the 1st quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 644 shares during the last quarter. Scarborough Advisors LLC purchased a new position in Alcoa in the 4th quarter valued at about $39,000. Quest Partners LLC purchased a new position in Alcoa in the 4th quarter valued at about $40,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Alcoa by 56.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 576 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

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.