Alcoa (NYSE:AA) Stock Gets Price Target Cut from Freedom Broker

Alcoa (NYSE:AA) had its price objective lowered by Freedom Broker from $76.00 to $62.00 in a research report released on Tuesday morning,Benzinga reports. Freedom Broker currently has a buy rating on the industrial products company’s stock.

AA has been the subject of several other reports. Wall Street Zen upgraded Alcoa from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Bank of America decreased their target price on Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a research report on Thursday, July 9th. Morgan Stanley decreased their target price on Alcoa from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 7th. Zacks Research raised Alcoa from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Finally, Argus dropped their price target on Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $58.23.

Alcoa Stock Down 5.2%

AA stock opened at $38.62 on Tuesday. The stock has a market capitalization of $10.19 billion, a P/E ratio of 6.67, a P/E/G ratio of 0.60 and a beta of 1.74. The firm has a 50-day simple moving average of $46.02 and a 200-day simple moving average of $55.15. The company has a quick ratio of 1.66, a current ratio of 2.31 and a debt-to-equity ratio of 0.58. Alcoa has a 52 week low of $35.12 and a 52 week high of $84.38.

Alcoa (NYSE:AA) last released its quarterly earnings results on Thursday, October 15th. The industrial products company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.31. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. Alcoa had a net margin of 10.77% and a return on equity of 24.58%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 EPS. Equities analysts forecast that Alcoa will post 6.65 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 27th will be given a $0.10 dividend. The ex-dividend date is Tuesday, October 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Alcoa’s dividend payout ratio is 6.91%.

Insider Activity at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 15,628 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total transaction 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Renato Bacchi sold 700 shares of the company’s stock in a transaction 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 sale, the executive vice president owned 74,930 shares of the company’s stock, valued at approximately $3,822,928.60. The trade was a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AA. BlackRock Inc. acquired a new stake in shares of Alcoa during the 2nd quarter worth approximately $1,528,523,000. Quantbot Technologies LP purchased a new stake in shares of Alcoa during the 2nd quarter valued at approximately $1,179,000. Fifth Third Bancorp raised its position in shares of Alcoa by 3,061.2% during the 1st quarter. Fifth Third Bancorp now owns 63,098 shares of the industrial products company’s stock valued at $4,185,000 after buying an additional 61,102 shares during the period. XY Capital Ltd purchased a new stake in shares of Alcoa during the 1st quarter valued at approximately $1,662,000. Finally, Advisors Preferred LLC acquired a new position in Alcoa in the first quarter valued at approximately $1,613,000.

Key Stories Impacting Alcoa

Here are the key news stories impacting Alcoa this week:

• Positive Sentiment: Alcoa’s reported average analyst price target is $58.23, substantially above the current share price, suggesting potential upside if aluminum pricing and margins stabilize. Alcoa Stock Has Average Price Target of $58.23
• Neutral Sentiment: Morgan Stanley maintained a Hold rating on Alcoa, indicating limited conviction that the stock’s risk-reward profile has improved enough to warrant a more bullish stance. Alcoa Gets a Hold from Morgan Stanley
• Neutral Sentiment: Argus separately reaffirmed its Hold rating, underscoring a cautious consensus despite the firm’s reported downgrade-related concerns. Argus Alcoa Rating
• Negative Sentiment: Argus downgraded Alcoa, warning that weaker pricing and rising worldwide aluminum supply could compress near-term margins and profits. The downgrade directly contributed to the shares’ decline. Alcoa Shares Fall After Argus Downgrade
• Negative Sentiment: Citigroup, B. Riley Financial, and Freedom Broker each issued or maintained more pessimistic expectations for Alcoa’s stock, adding to the broader analyst caution surrounding the company. Citigroup Forecast

About Alcoa

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.