Alcoa Co. (NYSE:AA – Get Rating) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 7,620,000 shares, a growth of 7.0% from the February 13th total of 7,120,000 shares. Currently, 4.3% of the company’s stock are sold short. Based on an average daily volume of 4,830,000 shares, the days-to-cover ratio is currently 1.6 days.
Alcoa Price Performance
Alcoa stock opened at $39.77 on Thursday. Alcoa has a 12 month low of $33.55 and a 12 month high of $98.09. The company has a current ratio of 1.75, a quick ratio of 0.94 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of -47.68, a PEG ratio of 6.02 and a beta of 2.45. The stock’s 50 day moving average is $50.35 and its 200-day moving average is $46.12.
Alcoa (NYSE:AA – Get Rating) last released its quarterly earnings data on Wednesday, January 18th. The industrial products company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.15. Alcoa had a negative net margin of 0.82% and a positive return on equity of 13.17%. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the prior year, the company earned $2.50 EPS. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. Equities research analysts expect that Alcoa will post 2.41 EPS for the current year.
Alcoa Announces Dividend
Insider Buying and Selling
In related news, CFO William F. Oplinger sold 134,444 shares of the company’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $53.04, for a total value of $7,130,909.76. Following the completion of the sale, the chief financial officer now directly owns 71,560 shares of the company’s stock, valued at approximately $3,795,542.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO William F. Oplinger sold 134,444 shares of the stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $53.04, for a total transaction of $7,130,909.76. Following the completion of the transaction, the chief financial officer now directly owns 71,560 shares of the company’s stock, valued at approximately $3,795,542.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jeffrey D. Heeter sold 40,130 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $51.21, for a total value of $2,055,057.30. Following the completion of the sale, the executive vice president now owns 37,840 shares in the company, valued at approximately $1,937,786.40. The disclosure for this sale can be found here. Insiders sold 210,188 shares of company stock valued at $11,017,365 in the last three months.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the business. Fairfield Bush & CO. purchased a new position in shares of Alcoa in the first quarter worth about $29,000. US Bancorp DE increased its stake in shares of Alcoa by 4.9% in the first quarter. US Bancorp DE now owns 9,359 shares of the industrial products company’s stock worth $842,000 after buying an additional 434 shares during the period. Acadian Asset Management LLC purchased a new position in Alcoa during the 1st quarter valued at $435,000. Great West Life Assurance Co. Can increased its position in Alcoa by 8.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 108,717 shares of the industrial products company’s stock valued at $10,089,000 after purchasing an additional 8,028 shares during the period. Finally, Blair William & Co. IL purchased a new position in Alcoa during the 1st quarter valued at $242,000.
Analysts Set New Price Targets
Several research analysts have commented on the company. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research report on Saturday, March 11th. BMO Capital Markets cut their target price on Alcoa from $55.00 to $50.00 and set a “market perform” rating for the company in a research report on Thursday, January 19th. Morgan Stanley cut their target price on Alcoa from $56.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, January 20th. UBS Group increased their price objective on Alcoa from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, February 1st. Finally, B. Riley increased their target price on Alcoa from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, January 19th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $61.67.
Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.
- Get a free copy of the StockNews.com research report on Alcoa (AA)
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