UBS Group Boosts Alcoa (NYSE:AA) Price Target to $50.00

Alcoa (NYSE:AA) had its price objective raised by UBS Group from $40.00 to $50.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other analysts have also recently commented on the company. JPMorgan Chase & Co. initiated coverage on Alcoa in a research report on Wednesday, September 25th. They issued a “neutral” rating and a $36.00 target price for the company. B. Riley raised their price objective on Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $52.00 in a report on Tuesday, October 1st. StockNews.com lowered shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Morgan Stanley lowered their price objective on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.36.

Alcoa Trading Down 4.1 %

Shares of AA opened at $40.33 on Tuesday. The business’s 50-day moving average price is $34.74 and its 200 day moving average price is $36.74. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $7.24 billion, a P/E ratio of -10.73 and a beta of 2.42. Alcoa has a 1-year low of $23.07 and a 1-year high of $45.48.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.97 billion. During the same period last year, the company posted ($1.14) earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts expect that Alcoa will post 0.29 earnings per share for the current year.

Alcoa Dividend Announcement

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

Institutional Investors Weigh In On Alcoa

Several institutional investors and hedge funds have recently modified their holdings of AA. Confluence Investment Management LLC acquired a new stake in shares of Alcoa in the first quarter worth about $351,000. Los Angeles Capital Management LLC acquired a new stake in Alcoa in the 1st quarter worth approximately $210,000. Banque Cantonale Vaudoise boosted its position in Alcoa by 24.7% during the first quarter. Banque Cantonale Vaudoise now owns 4,044 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 800 shares during the period. Douglas Lane & Associates LLC grew 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 valued at $45,675,000 after purchasing an additional 154,403 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Alcoa in the first quarter valued at approximately $252,000. 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.