Alcoa’s (AA) “Hold” Rating Reiterated at Argus

Argus reissued their hold rating on shares of Alcoa (NYSE:AA) in a research report report published on Thursday morning, Marketbeat Ratings reports.

A number of other analysts have also recently commented on AA. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alcoa in a research report on Monday, September 14th. B. Riley Financial reduced their target price on Alcoa from $80.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, October 20th. Barclays initiated coverage on Alcoa in a research report on Wednesday, October 14th. They issued an “overweight” rating and a $55.00 target price for the company. Morgan Stanley dropped their price target on Alcoa from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 7th. Finally, DA Davidson set a $62.00 price target on Alcoa in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.23.

Alcoa Price Performance

Shares of NYSE:AA opened at $37.96 on Thursday. The company’s fifty day moving average price is $45.78 and its 200 day moving average price is $55.03. Alcoa has a 12 month low of $35.12 and a 12 month high of $84.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.31 and a quick ratio of 1.66. The firm has a market capitalization of $10.02 billion, a P/E ratio of 6.56, a P/E/G ratio of 0.56 and a beta of 1.74.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, October 15th. The industrial products company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.31. Alcoa had a net margin of 10.77% and a return on equity of 24.58%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the company earned $0.88 earnings per share. Alcoa’s quarterly revenue was up 23.7% compared to the same quarter last year. As a group, sell-side analysts predict that Alcoa will post 6.70 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 27th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, October 27th. Alcoa’s dividend payout ratio (DPR) is 6.91%.

Insider Activity at Alcoa

In other news, EVP Tammi Jones sold 15,628 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total value of $790,776.80. Following the transaction, the executive vice president owned 39,819 shares of the company’s stock, valued at approximately $2,014,841.40. The trade was a 28.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Renato Bacchi sold 700 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $51.02, for a total value of $35,714.00. Following the completion of the transaction, the executive vice president directly owned 74,930 shares in the company, valued at approximately $3,822,928.60. The trade was a 0.93% decrease in their position. The disclosure for this sale is available in the SEC filing.

Hedge Funds Weigh In On Alcoa

A number of hedge funds and other institutional investors have recently bought and sold shares of AA. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Alcoa during the 2nd quarter worth $25,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Alcoa by 5,281.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 581 shares during the period. Western Wealth Management LLC purchased a new stake in shares of Alcoa in the first quarter valued at about $35,000. Root Financial Partners LLC purchased a new stake in shares of Alcoa in the third quarter valued at about $42,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Alcoa in the second quarter valued at about $52,000.

Trending Headlines about Alcoa

Here are the key news stories impacting Alcoa this week:

• Positive Sentiment: Alcoa’s quarterly results benefited from improving smelter economics. The company previously reported adjusted earnings of $1.82 per share, above the $1.51 consensus estimate, while revenue increased 23.7% year over year to $3.70 billion. Alcoa Posts Quarterly Results As Smelter Economics Improve
• Neutral Sentiment: Alcoa’s valuation remains relatively modest, but its high beta and declining position below its 50-day and 200-day moving averages indicate elevated volatility and ongoing investor caution.
• Negative Sentiment: Argus Research downgraded Alcoa from Buy to Hold, citing mounting pricing pressure and expanding global aluminum supply. Argus warned that these conditions could weigh on near-term profit margins. Argus Research Downgrades Alcoa Alcoa Downgraded at Argus
• Negative Sentiment: The Argus downgrade triggered significant selling as investors focused on market headwinds, excess supply and the risk that weaker pricing will offset operational improvements. Alcoa Shares Fall After Argus Downgrade
• Negative Sentiment: Citigroup, B. Riley Financial and Freedom Broker each issued more pessimistic forecasts or lowered expectations for Alcoa, adding to the negative analyst sentiment surrounding the stock. Citigroup Forecast for Alcoa B. Riley Forecast for Alcoa Freedom Broker Expectations for Alcoa

Alcoa Company Profile

Alcoa Corporation (NYSE:AA) is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of value-added aluminum products. These materials serve customers in industries such as transportation, building and construction, packaging, aerospace and industrial manufacturing.

The company operates across multiple regions, with assets and activities in North America, South America, Europe, Australia and other international markets.