Alcoa Inc. (NYSE:AA) was upgraded by equities research analysts at Vetr from a “strong sell” rating to a “sell” rating in a research note issued to investors on Monday. The firm presently has a $27.41 price target on the stock. Vetr‘s price target would suggest a potential downside of 13.53% from the stock’s current price.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research raised 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. Morgan Stanley reissued a “buy” rating and set a $12.00 target price on shares of Alcoa in a research report on Tuesday, August 16th. Gabelli initiated coverage on Alcoa in a research report on Tuesday, November 1st. They set a “buy” rating on the stock. Goldman Sachs Group Inc. set a $30.00 target price on Alcoa and gave the stock a “hold” rating in a research report on Monday, October 10th. Finally, Macquarie began coverage on shares of Alcoa in a research note on Tuesday, November 1st. They set a “neutral” rating and a $21.00 price target for the company. Three equities research 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’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.95.
Shares of Alcoa (NYSE:AA) traded up 0.60% during trading on Monday, reaching $31.70. The company had a trading volume of 3,109,517 shares. Alcoa has a 12-month low of $20.00 and a 12-month high of $32.19. The company’s market cap is $13.90 billion. The firm has a 50-day moving average of $25.80 and a 200-day moving average of $25.80.
Alcoa (NYSE:AA) last released its earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.21 billion for the quarter. During the same period last year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Alcoa will post ($0.66) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s dividend payout ratio (DPR) is -63.15%.
Several institutional investors have recently made changes to their positions in AA. Retirement Systems of Alabama raised its position 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 period. 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. purchased a new position in shares of Alcoa during the second quarter valued at about $180,000.
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.