Alcoa (NYSE:AA) Price Target Raised to $90.00

Alcoa (NYSE:AA) had its price target increased by HC Wainwright to $90.00 in a report published on Tuesday,Stock Target Advisor reports. HC Wainwright currently has a buy rating on the industrial products company’s stock.

A number of other research firms have also commented on AA. JPMorgan Chase & Co. raised their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Morgan Stanley lowered their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Bank of America raised their price objective on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research note on Friday, January 24th. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, BMO Capital Markets lifted their price target on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Alcoa presently has an average rating of “Moderate Buy” and a consensus price target of $50.17.

Alcoa Price Performance

Shares of NYSE:AA opened at $32.27 on Tuesday. The firm’s 50 day moving average is $35.59 and its two-hundred day moving average is $37.94. Alcoa has a 52 week low of $27.12 and a 52 week high of $47.77. The firm has a market capitalization of $8.35 billion, a P/E ratio of -201.66, a PEG ratio of 0.19 and a beta of 2.55. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Analysts anticipate that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 4th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, March 4th. Alcoa’s dividend payout ratio is -250.00%.

Hedge Funds Weigh In On Alcoa

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 296 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Alcoa during the 4th quarter valued at $29,000. Point72 Hong Kong Ltd purchased a new position in shares of Alcoa during the 4th quarter valued at $36,000. Smartleaf Asset Management LLC grew its holdings in shares of Alcoa by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 393 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Alcoa during the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 82.39% of the company’s stock.

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.