Alcoa (NYSE:AA) Price Target Increased to $45.00 by Analysts at BMO Capital Markets

Alcoa (NYSE:AA) had its price target raised by BMO Capital Markets from $42.00 to $45.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a market perform rating on the industrial products company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research note on Wednesday, September 4th. B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $41.00 to $50.00 in a research note on Thursday. Morgan Stanley reduced their target price on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Bank of America upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. Finally, UBS Group lifted their target price on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.36.

Alcoa Stock Performance

Alcoa stock opened at $40.33 on Thursday. The stock has a 50-day simple moving average of $34.74 and a 200 day simple moving average of $36.74. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of -10.73 and a beta of 2.42. 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 12-month low of $23.07 and a 12-month high of $45.48.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the firm posted ($1.14) earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Alcoa will post 0.29 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, October 29th. Alcoa’s payout ratio is -10.64%.

Institutional Trading of Alcoa

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. acquired a new position in shares of Alcoa during the 2nd quarter worth approximately $27,000. UMB Bank n.a. increased its holdings in Alcoa by 481.7% during the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after buying an additional 631 shares during the last quarter. Toronto Dominion Bank raised its position in Alcoa by 1,501.9% during the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 1,592 shares in the last quarter. Fifth Third Bancorp lifted its stake in Alcoa by 15.1% in the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 309 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Alcoa in the 1st quarter valued at about $101,000. Institutional investors 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.