Alcoa (NYSE:AA) Price Target Cut to $45.00 by Analysts at Jefferies Financial Group

Alcoa (NYSE:AA) had its price objective decreased by Jefferies Financial Group from $50.00 to $45.00 in a research report report published on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the industrial products company’s stock.

AA has been the topic of a number of other research reports. B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the company from $41.00 to $50.00 in a research report on Thursday, October 17th. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 price objective on shares of Alcoa in a report on Tuesday, September 17th. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Bank of America lifted their target price on Alcoa to $58.00 and gave the company a “buy” rating in a research report on Thursday, November 28th. Finally, Morgan Stanley increased their price target on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alcoa has a consensus rating of “Moderate Buy” and a consensus price target of $46.45.

Alcoa Stock Performance

NYSE AA opened at $36.47 on Monday. Alcoa has a fifty-two week low of $24.86 and a fifty-two week high of $47.77. The firm has a market capitalization of $9.42 billion, a P/E ratio of -20.72, a price-to-earnings-growth ratio of 0.79 and a beta of 2.47. The stock’s fifty day moving average is $41.66 and its two-hundred day moving average is $37.93. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41.

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

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were paid a $0.10 dividend. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 1.10%. Alcoa’s dividend payout ratio is presently -22.73%.

Insider Buying and Selling

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the business’s 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 transaction, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On Alcoa

A number of large investors have recently modified their holdings of the business. Mountaineer Partners Management LLC increased its holdings in shares of Alcoa by 4,023.0% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after purchasing an additional 10,534,036 shares in the last quarter. State Street Corp increased its holdings in Alcoa by 23.3% in the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after buying an additional 1,805,915 shares in the last quarter. Paloma Partners Management Co lifted its position in shares of Alcoa by 11,317.8% during the 3rd quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock valued at $55,084,000 after acquiring an additional 1,415,294 shares during the period. Marshall Wace LLP lifted its position in shares of Alcoa by 770.9% during the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock valued at $56,599,000 after acquiring an additional 1,259,430 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Alcoa by 42.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock worth $161,838,000 after acquiring an additional 1,239,479 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

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.