UBS Group Raises Alcoa (NYSE:AA) Price Target to $40.00

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

Other analysts have also recently issued research reports about the stock. Wolfe Research raised shares of Alcoa from a peer perform rating to an outperform rating and set a $36.00 price objective for the company in a research note on Wednesday, September 4th. B. Riley Financial reaffirmed a neutral rating and set a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. B. Riley upped their price objective on shares of Alcoa from $37.00 to $41.00 and gave the company a neutral rating in a research note on Tuesday, September 17th. Bank of America decreased their target price on shares of Alcoa from $46.00 to $43.00 and set a neutral rating on the stock in a report on Thursday, July 18th. Finally, StockNews.com upgraded shares of Alcoa from a sell rating to a hold rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $40.45.

Alcoa Trading Down 3.1 %

Shares of Alcoa stock opened at $33.83 on Thursday. The firm has a 50-day simple moving average of $32.51 and a two-hundred day simple moving average of $35.71. The company has a market cap of $6.07 billion, a P/E ratio of -9.00 and a beta of 2.42. Alcoa has a fifty-two week low of $23.07 and a fifty-two week high of $45.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55.

Alcoa (NYSE:AA) last released its 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. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.35) earnings per share. As a group, equities analysts predict that Alcoa will post 0.7 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, August 12th. Alcoa’s payout ratio is currently -10.64%.

Institutional Trading of Alcoa

Several hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Alcoa in the second quarter valued at about $27,000. Scarborough Advisors LLC acquired a new stake in shares of Alcoa in the fourth quarter valued at about $39,000. Quest Partners LLC acquired a new stake in shares of Alcoa in the fourth quarter valued at about $40,000. Quadrant Capital Group LLC increased its holdings in Alcoa by 56.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 576 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 1,592 shares in the last quarter. 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.