Trading Report: Today, Alcoa Inc. (AA) Receives New Coverage from Analysts at Citigroup Inc.

Today, Alcoa Inc. (AA) Receives New Coverage from Analysts at Citigroup Inc.

Equities research analysts at Citigroup Inc. initiated coverage on shares of Alcoa Inc. (NYSE:AA) in a report released on Monday. The firm set a “buy” rating and a $30.00 price target on the stock. Citigroup Inc.’s price target would suggest a potential downside of 5.36% from the company’s previous close.

Several other analysts also recently commented on AA. Bank of America Corp. reaffirmed a “buy” rating and set a $33.00 price objective on shares of Alcoa in a research note on Wednesday, October 12th. Zacks Investment Research raised Alcoa from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Tuesday, October 4th. BMO Capital Markets reaffirmed a “hold” rating and set a $27.00 price objective on shares of Alcoa in a research note on Friday, October 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $12.00 price objective on shares of Alcoa in a research note on Wednesday, October 5th. Finally, Cowen and Company upped their price objective on Alcoa from $10.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, October 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Alcoa currently has an average rating of “Hold” and a consensus target price of $19.95.

Shares of Alcoa (NYSE:AA) opened at 31.70 on Monday. The firm’s market capitalization is $13.90 billion. Alcoa has a 52 week low of $20.00 and a 52 week high of $32.19. The stock has a 50 day moving average price of $26.01 and a 200-day moving average price of $26.01.

Alcoa (NYSE:AA) last announced its earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.21. The firm earned $5.21 billion during the quarter. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.07 earnings per share. On average, analysts anticipate that Alcoa will post ($0.66) EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Friday, November 4th were issued 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 of this dividend was Wednesday, November 2nd. Alcoa’s dividend payout ratio (DPR) is -63.15%.

Large investors have recently bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new stake in Alcoa during the third quarter valued at about $23,707,000. Pioneer Investment Management Inc. boosted its stake in Alcoa by 102.9% in the third quarter. Pioneer Investment Management Inc. now owns 1,680,543 shares of the company’s stock valued at $17,041,000 after buying an additional 852,224 shares during the period. Chartwell Investment Partners LLC boosted its stake in Alcoa by 21.3% in the third quarter. Chartwell Investment Partners LLC now owns 603,625 shares of the company’s stock valued at $6,121,000 after buying an additional 105,869 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alcoa during the third quarter valued at about $587,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in Alcoa during the third quarter valued at about $902,000.

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