Alcoa Inc. (AA) Given New $31.00 Price Target at Royal Bank Of Canada
Alcoa Inc. (NYSE:AA) had its price target cut by Royal Bank Of Canada to $31.00 in a report released on Wednesday. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 14.35% from the stock’s current price.
Several other equities research analysts have also recently commented on AA. Credit Suisse Group AG set a $39.00 price objective on shares of Alcoa and gave the company a “buy” rating in a research report on Saturday, October 8th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Alcoa in a research report on Tuesday, July 12th. BMO Capital Markets reissued a “hold” rating and set a $9.00 price target on shares of Alcoa in a research report on Tuesday, July 12th. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price target on shares of Alcoa in a research report on Wednesday, June 15th. Finally, Macquarie reissued a “buy” rating on shares of Alcoa in a research report on Tuesday, July 12th. Ten analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $16.83.
Shares of Alcoa (NYSE:AA) opened at 27.11 on Wednesday. Alcoa has a one year low of $18.42 and a one year high of $34.50. The stock’s market capitalization is $11.89 billion. The company’s 50 day moving average price is $29.71 and its 200 day moving average price is $29.83.
Alcoa (NYSE:AA) last posted its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.11 by $0.21. The business 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 company’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 earnings per share. On average, analysts expect that Alcoa will post $0.44 earnings per share for the current fiscal 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 0.44%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s payout ratio is currently -63.15%.
In other Alcoa news, Director Ulrich Schmidt purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The stock was purchased 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 owns 10,000 shares of the company’s stock, valued at $104,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Several institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc RI boosted its stake in Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock valued at $109,000 after buying an additional 1,401 shares during the period. Cupps Capital Management LLC purchased a new stake in Alcoa during the first quarter valued at $109,000. AXA purchased a new stake in Alcoa during the first quarter valued at $115,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in Alcoa during the second quarter valued at $121,000. Finally, Savant Capital LLC boosted its stake in Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock valued at $122,000 after buying an additional 2,360 shares during the period.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
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