Alcoa (NYSE:AA) Receives Average Recommendation of “Hold” from Brokerages

Alcoa (NYSE:AA) has been given a consensus rating of “Hold” by the eleven research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $68.50.

A number of analysts recently commented on the stock. B. Riley Financial boosted their target price on shares of Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Wall Street Zen downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley set a $79.00 target price on shares of Alcoa in a report on Thursday, June 11th. UBS Group upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $80.00 in a report on Friday, May 22nd. Finally, Argus set a $73.00 target price on shares of Alcoa in a report on Monday, April 27th.

Alcoa Stock Down 1.8%

AA stock opened at $58.31 on Thursday. Alcoa has a 52 week low of $27.72 and a 52 week high of $84.38. The company has a market capitalization of $15.39 billion, a price-to-earnings ratio of 14.76 and a beta of 1.56. The firm’s 50-day moving average is $68.11 and its two-hundred day moving average is $62.32. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36.

Alcoa (NYSE:AA) last released its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the firm posted $2.15 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts forecast that Alcoa will post 8.48 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, May 19th. Alcoa’s payout ratio is presently 10.13%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Empowered Funds LLC increased its position in shares of Alcoa by 64.6% in the first quarter. Empowered Funds LLC now owns 118,039 shares of the industrial products company’s stock worth $7,830,000 after acquiring an additional 46,332 shares in the last quarter. Lombard Odier Asset Management Europe Ltd increased its position in shares of Alcoa by 90.9% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 90,258 shares of the industrial products company’s stock worth $5,987,000 after acquiring an additional 42,979 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Alcoa by 40.2% in the first quarter. Parallel Advisors LLC now owns 4,677 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 1,340 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Alcoa by 19.7% in the first quarter. NewEdge Advisors LLC now owns 8,788 shares of the industrial products company’s stock worth $583,000 after acquiring an additional 1,446 shares in the last quarter. Finally, Cozad Asset Management Inc. increased its position in shares of Alcoa by 3.8% in the first quarter. Cozad Asset Management Inc. now owns 136,075 shares of the industrial products company’s stock worth $9,026,000 after acquiring an additional 4,925 shares in the last quarter.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.