Bank of America Corp. reaffirmed their buy rating on shares of Alcoa Inc. (NYSE:AA) in a research report report published on Wednesday morning. They currently have a $33.00 target price on the stock.
Several other analysts have also issued reports on AA. Berenberg Bank reiterated a hold rating and set a $9.00 price target on shares of Alcoa in a research report on Tuesday, June 14th. Rosenblatt Securities reiterated a buy rating and set a $15.00 price target on shares of Alcoa in a research report on Wednesday, June 15th. Morgan Stanley reiterated 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. Credit Suisse Group AG reiterated a buy rating on shares of Alcoa in a research report on Thursday, June 30th. Finally, JPMorgan Chase & Co. reiterated a hold rating on shares of Alcoa in a research report on Tuesday, July 12th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Alcoa currently has a consensus rating of Buy and a consensus target price of $17.74.
Shares of Alcoa (NYSE:AA) opened at 26.35 on Wednesday. Alcoa has a 12-month low of $18.42 and a 12-month high of $34.50. The firm’s 50-day moving average is $29.41 and its 200-day moving average is $29.78. The firm’s market cap is $11.55 billion.
Alcoa (NYSE:AA) last posted its quarterly 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 business had revenue of $5.21 billion for the quarter. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The business’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 EPS. Analysts predict that Alcoa will post $0.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s payout ratio is -63.15%.
In related news, Director Ulrich Schmidt purchased 5,000 shares of Alcoa stock in a transaction on Wednesday, July 20th. The stock was acquired at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $104,000. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
A number of large investors have recently bought and sold shares of the company. Rafferty Asset Management LLC acquired a new position in shares of Alcoa during the first quarter worth about $1,411,000. Cupps Capital Management LLC acquired a new position in shares of Alcoa during the first quarter worth about $109,000. Canada Pension Plan Investment Board boosted its position in shares of Alcoa by 17.1% in the first quarter. Canada Pension Plan Investment Board now owns 15,099 shares of the company’s stock worth $145,000 after buying an additional 2,200 shares in the last quarter. Smith Moore & CO. boosted its position in shares of Alcoa by 2.4% in the first quarter. Smith Moore & CO. now owns 21,661 shares of the company’s stock worth $208,000 after buying an additional 500 shares in the last quarter. Finally, Aviva PLC boosted its position in shares of Alcoa by 0.9% in the first quarter. Aviva PLC now owns 662,675 shares of the company’s stock worth $6,348,000 after buying an additional 5,886 shares in the last quarter.
Alcoa Company Profile