Alcoa Inc. (NYSE:AA) had its target price lifted by research analysts at Stifel Nicolaus from $13.00 to $39.00 in a research note issued on Friday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 22.72% from the stock’s previous close.
Several other equities analysts have also commented on the stock. Cowen and Company reaffirmed a “hold” rating on shares of Alcoa in a research report on Tuesday, July 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $12.00 price target (up previously from $11.00) on shares of Alcoa in a research report on Thursday, June 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price target on shares of Alcoa in a research report on Wednesday, June 15th. Argus reaffirmed a “hold” rating on shares of Alcoa in a research report on Friday, July 15th. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $11.00 price target on shares of Alcoa in a research report on Tuesday, July 12th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Alcoa currently has an average rating of “Buy” and a consensus price target of $12.34.
Alcoa (NYSE:AA) opened at 31.78 on Friday. The company’s 50 day moving average is $29.91 and its 200-day moving average is $29.81. The stock’s market cap is $41.80 billion. Alcoa has a 52-week low of $18.42 and a 52-week high of $34.50.
Alcoa (NYSE:AA) last posted its quarterly earnings data on Monday, July 11th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The business earned $5.30 billion during the quarter. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The business’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. On average, equities analysts anticipate that Alcoa will post $0.44 earnings per share for the current year.
The firm 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 of this dividend is Wednesday, November 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.38%. Alcoa’s dividend payout ratio (DPR) is -42.86%.
In other Alcoa news, Director Ulrich Schmidt bought 5,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were bought at an average cost of $10.40 per share, with a total value of $52,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $104,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Several hedge funds have recently modified their holdings of AA. Terra Nova Asset Management boosted its stake in shares of Alcoa by 0.9% in the third quarter. Terra Nova Asset Management now owns 17,680 shares of the company’s stock worth $171,000 after buying an additional 165 shares during the period. Baker Avenue Asset Management purchased a new stake in Alcoa during the third quarter worth $676,000. J. Goldman & Company purchased a new stake in Alcoa during the third quarter worth $7,245,000. Commonwealth Equity Services boosted its stake in Alcoa by 12.5% in the fourth quarter. Commonwealth Equity Services now owns 382,807 shares of the company’s stock worth $3,778,000 after buying an additional 42,474 shares during the period. Finally, Piedmont Investment Advisors LLC boosted its stake in Alcoa by 1,558.7% in the fourth quarter. Piedmont Investment Advisors LLC now owns 2,590,002 shares of the company’s stock worth $25,563,000 after buying an additional 2,433,858 shares during the period.
Alcoa Company Profile