Alcoa (NYSE:AA) Receives “Neutral” Rating from B. Riley Financial

B. Riley Financial reissued their neutral rating on shares of Alcoa (NYSE:AA) in a research report sent to investors on Tuesday morning, Stock Target Advisor reports. The firm currently has a $41.00 target price on the industrial products company’s stock.

A number of other research firms also recently commented on AA. UBS Group raised shares of Alcoa from a sell rating to a buy rating and raised their price objective for the stock from $32.00 to $38.00 in a report on Monday, August 12th. B. Riley increased their price target on shares of Alcoa from $37.00 to $41.00 and gave the stock a neutral rating in a research report on Tuesday. Wolfe Research raised Alcoa from a peer perform rating to an outperform rating and set a $36.00 price objective on the stock in a report on Wednesday, September 4th. Morgan Stanley lowered their price objective on Alcoa from $50.00 to $48.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Finally, Bank of America cut their target price on Alcoa from $46.00 to $43.00 and set a neutral rating for the company in a research report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Alcoa has an average rating of Hold and a consensus price target of $40.45.

Alcoa Stock Up 1.7 %

AA stock opened at $34.92 on Tuesday. The business’s 50-day simple moving average is $32.70 and its 200 day simple moving average is $35.61. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. Alcoa has a twelve month low of $23.07 and a twelve month high of $45.48. The company has a market cap of $6.27 billion, a PE ratio of -9.29 and a beta of 2.42.

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

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 annualized dividend and a yield of 1.15%. Alcoa’s dividend payout ratio (DPR) is -10.64%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Alcoa during the 2nd quarter worth approximately $27,000. Spire Wealth Management raised its position in shares of Alcoa by 252.5% during the 1st quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 644 shares during the last quarter. Scarborough Advisors LLC acquired a new position in shares of Alcoa in the 4th quarter valued at $39,000. Quest Partners LLC bought a new position in shares of Alcoa in the 4th quarter worth $40,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Alcoa by 56.0% during the fourth 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 period. 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.