Vetr upgraded shares of Alcoa Inc. (NYSE:AA) from a strong sell rating to a sell rating in a report published on Monday morning. They currently have $27.41 price target on the stock.
Several other analysts have also recently commented on AA. Morgan Stanley restated a buy rating and issued a $12.00 target price on shares of Alcoa in a research report on Tuesday, August 16th. Seaport Global Securities started coverage on Alcoa in a research report on Friday, September 9th. They issued a neutral rating and a $11.00 target price on the stock. Zacks Investment Research upgraded Alcoa from a hold rating to a buy rating and set a $11.00 target price on the stock in a research report on Tuesday, October 4th. Credit Suisse Group AG set a $39.00 target price on Alcoa and gave the company a buy rating in a research report on Saturday, October 8th. Finally, Goldman Sachs Group Inc. set a $30.00 target price on Alcoa and gave the company a hold rating in a research report on Monday, October 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. Alcoa presently has an average rating of Hold and an average target price of $19.95.
Alcoa (NYSE:AA) opened at 31.51 on Monday. The stock has a 50 day moving average price of $25.80 and a 200-day moving average price of $25.80. Alcoa has a 12-month low of $20.00 and a 12-month high of $32.02. The firm’s market capitalization is $13.82 billion.
Alcoa (NYSE:AA) last posted its earnings results on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.11 by $0.21. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. The firm had revenue of $5.21 billion for the quarter. During the same quarter in the prior year, the business earned $0.07 earnings per share. The firm’s revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Alcoa will post ($0.66) EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $0.12 annualized dividend and a yield of 0.38%. Alcoa’s dividend payout ratio (DPR) is currently -63.15%.
A number of institutional investors have recently bought and sold shares of the stock. First Pacific Advisors LLC raised its position in Alcoa by 13.5% in the second quarter. First Pacific Advisors LLC now owns 64,456,242 shares of the company’s stock valued at $597,509,000 after buying an additional 7,650,380 shares during the period. Slate Path Capital LP bought a new position in Alcoa during the second quarter valued at $65,261,000. Systematic Financial Management LP bought a new position in Alcoa during the second quarter valued at $43,763,000. Vanguard Group Inc. raised its position in Alcoa by 2.9% in the second quarter. Vanguard Group Inc. now owns 118,489,630 shares of the company’s stock valued at $1,098,398,000 after buying an additional 3,387,829 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new position in Alcoa during the third quarter valued at $23,707,000.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.