Alcoa Co. (NYSE:AA) Receives Average Recommendation of “Hold” from Analysts

Shares of Alcoa Co. (NYSE:AA) have earned a consensus rating of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.88.

Several analysts have recently weighed in on AA shares. StockNews.com lowered shares of Alcoa from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. boosted their price objective on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. B. Riley lowered their target price on Alcoa from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, December 12th. BMO Capital Markets reduced their price target on shares of Alcoa from $30.00 to $29.00 and set a “market perform” rating on the stock in a research report on Thursday, January 18th. Finally, UBS Group initiated coverage on shares of Alcoa in a report on Tuesday, January 16th. They set a “sell” rating and a $29.00 price objective on the stock.

Insider Buying and Selling

In other news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the transaction, the executive vice president now directly owns 41,166 shares in the company, valued at approximately $1,267,089.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Alcoa

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates raised its holdings in Alcoa by 3,731.1% during the 4th quarter. Raymond James & Associates now owns 799,705 shares of the industrial products company’s stock worth $27,190,000 after buying an additional 778,831 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Alcoa by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,234,472 shares of the industrial products company’s stock valued at $35,874,000 after acquiring an additional 54,876 shares in the last quarter. Nordea Investment Management AB lifted its position in Alcoa by 132.2% in the 4th quarter. Nordea Investment Management AB now owns 112,082 shares of the industrial products company’s stock valued at $3,824,000 after acquiring an additional 63,816 shares in the last quarter. Comerica Bank acquired a new position in Alcoa in the 2nd quarter worth $7,430,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in Alcoa during the 4th quarter worth about $227,000.

Alcoa Price Performance

Alcoa stock opened at $36.36 on Tuesday. The business has a 50 day simple moving average of $29.79 and a 200 day simple moving average of $28.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.45 and a quick ratio of 0.74. The company has a market capitalization of $6.53 billion, a PE ratio of -9.96, a price-to-earnings-growth ratio of 2.70 and a beta of 2.47. Alcoa has a one year low of $23.07 and a one year high of $42.23.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, January 17th. The industrial products company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.29. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.70) EPS. On average, sell-side analysts forecast that Alcoa will post 0.31 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, March 4th. Alcoa’s dividend payout ratio (DPR) is currently -10.96%.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.