Alcoa Inc. (NYSE:AA) was downgraded by investment analysts at Vetr from a “sell” rating to a “strong sell” rating in a report issued on Thursday. They currently have a $27.98 price objective on the stock. Vetr‘s price objective would suggest a potential downside of 11.20% from the stock’s current price.
A number of other brokerages have also issued reports on AA. BMO Capital Markets restated a “hold” rating and issued a $27.00 price target on shares of Alcoa in a research report on Friday, October 21st. Goldman Sachs Group Inc. started coverage on Alcoa in a research report on Wednesday, November 2nd. They issued a “sell” rating and a $15.00 price target for the company. Cowen and Company started coverage on Alcoa in a research report on Monday, November 7th. They issued a “market perform” rating and a $29.00 price target for the company. Bank of America Corp. started coverage on Alcoa in a research report on Wednesday, November 2nd. They issued an “underperform” rating and a $22.00 price target for the company. Finally, Zacks Investment Research upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Monday, October 31st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $19.95.
Shares of Alcoa (NYSE:AA) traded up 0.54% during midday trading on Thursday, reaching $31.51. 4,112,265 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $25.80 and its 200 day moving average price is $25.80. Alcoa has a one year low of $20.00 and a one year high of $32.02. The firm’s market capitalization is $13.82 billion.
Alcoa (NYSE:AA) last released its earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.21. The company earned $5.21 billion during the quarter. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The company’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 earnings per share. On average, equities research analysts expect that Alcoa will post ($0.66) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s payout ratio is -63.15%.
Hedge funds have recently modified their holdings of the company. Retirement Systems of Alabama boosted its stake in shares of Alcoa by 41.6% in the second quarter. Retirement Systems of Alabama now owns 1,555,399 shares of the company’s stock valued at $14,419,000 after buying an additional 457,196 shares during the last quarter. South Texas Money Management Ltd. raised its position in shares of Alcoa by 16.4% in the second quarter. South Texas Money Management Ltd. now owns 2,138,691 shares of the company’s stock valued at $19,826,000 after buying an additional 300,567 shares during the period. New Jersey Better Educational Savings Trust raised its position in shares of Alcoa by 11.1% in the second quarter. New Jersey Better Educational Savings Trust now owns 60,000 shares of the company’s stock valued at $556,000 after buying an additional 6,000 shares during the period. IFC Holdings Incorporated FL raised its position in shares of Alcoa by 29.6% in the second quarter. IFC Holdings Incorporated FL now owns 17,360 shares of the company’s stock valued at $169,000 after buying an additional 3,961 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of Alcoa during the second quarter valued at approximately $180,000.
Alcoa Company Profile
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.