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

Alcoa Co. (NYSE:AA) has been given an average rating of “Moderate Buy” by the twelve brokerages that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $44.75.

A number of research firms recently issued reports on AA. B. Riley Financial reiterated a “neutral” rating and set a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. BMO Capital Markets upped their price objective on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, September 4th. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and raised their price objective for the company from $41.00 to $50.00 in a research note on Thursday, October 17th.

Insider Activity at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Alcoa

Several hedge funds have recently modified their holdings of AA. Newbridge Financial Services Group Inc. purchased a new stake in shares of Alcoa during the second quarter valued at approximately $27,000. UMB Bank n.a. increased its position 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 valued at $29,000 after purchasing an additional 631 shares during the last quarter. Quarry LP purchased a new stake in shares of Alcoa during the 3rd quarter valued at $43,000. Continuum Advisory LLC raised its stake 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 worth $46,000 after purchasing an additional 1,070 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in shares of Alcoa by 1,501.9% in the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock worth $57,000 after buying an additional 1,592 shares during the last quarter.

Alcoa Trading Up 3.6 %

NYSE AA opened at $45.57 on Wednesday. Alcoa has a 12 month low of $23.80 and a 12 month high of $46.55. The business’s 50-day moving average price is $39.59 and its two-hundred day moving average price is $37.76. The firm has a market capitalization of $11.77 billion, a PE ratio of -25.89, a price-to-earnings-growth ratio of 0.84 and a beta of 2.42. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47.

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

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 0.88%. Alcoa’s dividend payout ratio (DPR) 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.