Alcoa (NYSE:AA) Price Target Increased to $40.00 by Analysts at UBS Group

Alcoa (NYSE:AA) had its price target upped by UBS Group from $38.00 to $40.00 in a research report sent to investors on Thursday morning, Marketbeat.com reports. The firm currently has a buy rating on the industrial products company’s stock.

Other research analysts have also issued reports about the stock. B. Riley lifted their price target on shares of Alcoa from $37.00 to $41.00 and gave the company a neutral rating in a report on Tuesday. B. Riley Financial restated a neutral rating and issued a $41.00 target price on shares of Alcoa in a research note on Tuesday. 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 report on Wednesday, September 4th. StockNews.com raised Alcoa from a sell rating to a hold rating in a report on Thursday, July 18th. Finally, Morgan Stanley lowered their price objective on Alcoa from $50.00 to $48.00 and set an overweight rating for the company in a research note on Monday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Alcoa presently has a consensus rating of Hold and a consensus price target of $40.45.

Alcoa Price Performance

Shares of AA stock opened at $34.92 on Thursday. The firm has a fifty day moving average of $32.70 and a two-hundred day moving average of $35.61. The firm has a market cap of $6.27 billion, a P/E ratio of -9.29 and a beta of 2.42. Alcoa has a 1-year low of $23.07 and a 1-year high of $45.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the firm earned ($0.35) earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts anticipate that Alcoa will post 0.7 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were paid a $0.10 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.15%. Alcoa’s payout ratio is -10.64%.

Institutional Investors Weigh In On Alcoa

A number of hedge funds and other institutional investors have recently modified their holdings of AA. Douglas Lane & Associates LLC raised its holdings in Alcoa by 12.9% during the first quarter. Douglas Lane & Associates LLC now owns 1,351,720 shares of the industrial products company’s stock worth $45,675,000 after purchasing an additional 154,403 shares in the last quarter. ARGA Investment Management LP grew its holdings in Alcoa by 202.2% during the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after acquiring an additional 997,912 shares during the period. Quadrature Capital Ltd bought a new stake in Alcoa in the first quarter worth about $593,000. Cloverfields Capital Group LP acquired a new stake in Alcoa in the 4th quarter valued at about $865,000. Finally, U.S. Capital Wealth Advisors LLC bought a new position in shares of Alcoa during the 2nd quarter valued at about $706,000. 82.39% of the stock is currently owned by institutional investors.

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.