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

Shares of Alcoa Co. (NYSE:AA) have received an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $49.92.

A number of equities analysts have recently weighed in on AA shares. JPMorgan Chase & Co. upped their price objective on Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. BMO Capital Markets increased their price objective on shares of Alcoa to $43.00 and gave the company a “hold” rating in a report on Friday, January 17th. B. Riley raised shares of Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. HC Wainwright raised their target price on shares of Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Finally, Bank of America boosted their price target on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 24th.

Alcoa Price Performance

NYSE AA opened at $30.58 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. Alcoa has a 12 month low of $27.12 and a 12 month high of $47.77. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of -191.15, a PEG ratio of 0.19 and a beta of 2.55. The company’s 50 day moving average is $34.75 and its two-hundred day moving average is $38.13.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, research analysts anticipate that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa’s dividend payout ratio is currently -250.00%.

Institutional Investors Weigh In On Alcoa

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in shares of Alcoa by 488.2% in the fourth quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company’s stock worth $30,320,000 after purchasing an additional 666,117 shares during the last quarter. California State Teachers Retirement System grew its stake in Alcoa by 5.8% in the fourth quarter. California State Teachers Retirement System now owns 240,870 shares of the industrial products company’s stock valued at $9,100,000 after purchasing an additional 13,137 shares during the last quarter. 111 Capital purchased a new position in shares of Alcoa in the 4th quarter worth approximately $493,000. Wealth Enhancement Advisory Services LLC boosted its stake in Alcoa by 14.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,467 shares of the industrial products company’s stock valued at $395,000 after acquiring an additional 1,337 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Alcoa by 536.9% in the fourth quarter. Mackenzie Financial Corp now owns 645,140 shares of the industrial products company’s stock worth $24,373,000 after purchasing an additional 543,853 shares during the last quarter. Hedge funds and other 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.