Alcoa (NYSE:AA) Price Target Raised to $50.00 at Citigroup

Alcoa (NYSE:AA) had its price objective lifted by Citigroup from $32.00 to $50.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other research analysts have also issued reports on AA. B. Riley lifted their price target on shares of Alcoa from $25.00 to $31.00 and gave the stock a neutral rating in a research report on Thursday, April 18th. BMO Capital Markets boosted their target price on Alcoa from $35.00 to $37.00 and gave the stock a market perform rating in a research report on Thursday, April 18th. UBS Group increased their price target on Alcoa from $27.00 to $32.00 and gave the company a sell rating in a research report on Friday, April 19th. StockNews.com downgraded Alcoa from a hold rating to a sell rating in a report on Friday, April 19th. Finally, Bank of America raised their target price on shares of Alcoa from $31.00 to $32.00 and gave the stock a neutral rating in a report on Monday, March 18th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $35.04.

Alcoa Stock Up 1.5 %

AA stock opened at $41.65 on Tuesday. The stock has a market cap of $7.48 billion, a PE ratio of -11.08, a price-to-earnings-growth ratio of 4.33 and a beta of 2.45. The firm’s 50-day simple moving average is $36.37 and its 200 day simple moving average is $31.24. Alcoa has a fifty-two week low of $23.07 and a fifty-two week high of $44.57. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.23) EPS. As a group, sell-side analysts predict that Alcoa will post 0.2 EPS for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Monday, May 20th. Alcoa’s payout ratio is -10.64%.

Insider Buying and Selling at Alcoa

In related news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the sale, 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 SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cetera Advisors LLC boosted its stake in shares of Alcoa by 24.0% in the 1st quarter. Cetera Advisors LLC now owns 10,831 shares of the industrial products company’s stock valued at $366,000 after purchasing an additional 2,096 shares during the last quarter. Comerica Bank boosted its stake in Alcoa by 74.4% in the first quarter. Comerica Bank now owns 134,705 shares of the industrial products company’s stock valued at $4,552,000 after acquiring an additional 57,484 shares during the last quarter. Tidal Investments LLC grew its holdings in Alcoa by 518.6% during the 1st quarter. Tidal Investments LLC now owns 51,311 shares of the industrial products company’s stock worth $1,734,000 after acquiring an additional 43,016 shares during the period. L1 Capital Pty Ltd bought a new stake in shares of Alcoa during the 1st quarter valued at $72,658,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Alcoa in the 1st quarter valued at $1,423,000.

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.