Alcoa Inc. (NYSE:AA) had its target price cut by Deutsche Bank AG to $33.00 in a research report released on Wednesday. They currently have a buy rating on the stock.
Several other research analysts have also recently weighed in on AA. Credit Suisse Group AG set a $39.00 price target on shares of Alcoa and gave the company a buy rating in a report on Saturday, October 8th. JPMorgan Chase & Co. restated a hold rating on shares of Alcoa in a research report on Tuesday, July 12th. BMO Capital Markets restated a hold rating and set a $9.00 target price on shares of Alcoa in a research report on Tuesday, July 12th. Rosenblatt Securities restated a buy rating and set a $15.00 target price on shares of Alcoa in a research report on Wednesday, June 15th. Finally, Macquarie restated a buy rating on shares of Alcoa in a research report on Tuesday, July 12th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $17.74.
Alcoa (NYSE:AA) opened at 26.44 on Wednesday. Alcoa has a 52-week low of $18.42 and a 52-week high of $34.50. The company’s market cap is $11.59 billion. The company has a 50-day moving average of $29.51 and a 200 day moving average of $29.79.
Alcoa (NYSE:AA) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.21. The firm 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 firm’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 earnings per share. Equities research analysts predict that Alcoa will post $0.44 EPS for the current year.
The firm also recently declared 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 0.45%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s payout ratio is currently -63.15%.
In other news, Director Ulrich Schmidt bought 5,000 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was acquired at an average price of $10.40 per share, with a total value of $52,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $104,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of institutional investors have recently made changes to their positions in AA. Cupps Capital Management LLC purchased a new position in shares of Alcoa during the first quarter worth $109,000. Citizens Financial Group Inc RI increased its position in shares of Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock worth $109,000 after buying an additional 1,401 shares in the last quarter. AXA purchased a new position in shares of Alcoa during the first quarter worth $115,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Alcoa during the second quarter worth $121,000. Finally, Savant Capital LLC increased its position in shares of Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock worth $122,000 after buying an additional 2,360 shares in the last quarter.