Alcoa Inc. (AA) Price Target Increased to $30.00 by Analysts at Cowen and Company
Alcoa Inc. (NYSE:AA) had its price objective raised by Cowen and Company from $10.00 to $30.00 in a research note published on Thursday morning. The brokerage currently has a market perform rating on the stock.
A number of other equities research analysts also recently weighed in on AA. Rosenblatt Securities reissued a buy rating and set a $15.00 target price on shares of Alcoa in a research report on Wednesday, June 15th. Bank of America Corp. restated a buy rating on shares of Alcoa in a research note on Friday, June 17th. Morgan Stanley restated an overweight rating and set a $12.00 price target (up previously from $11.00) on shares of Alcoa in a research note on Thursday, June 30th. Berenberg Bank restated a hold rating and set a $9.00 price target on shares of Alcoa in a research note on Thursday, June 30th. Finally, Credit Suisse Group AG restated a buy rating on shares of Alcoa in a research note on Thursday, June 30th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $17.74.
Shares of Alcoa (NYSE:AA) traded down 0.86% during trading on Thursday, reaching $26.52. The company had a trading volume of 3,177,954 shares. The firm has a 50-day moving average of $29.62 and a 200-day moving average of $29.80. Alcoa has a 12-month low of $18.42 and a 12-month high of $34.50. The company’s market cap is $11.63 billion.
Alcoa (NYSE:AA) last released its earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.21. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. The business had revenue of $5.21 billion for the quarter. During the same period last year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Alcoa will post $0.44 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s dividend payout ratio (DPR) is -63.15%.
In other news, Director Ulrich Schmidt purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was bought at an average price of $10.40 per share, with a total value of $52,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $104,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several institutional investors have recently made changes to their positions in AA. Cupps Capital Management LLC bought a new stake in Alcoa during the first quarter valued at approximately $109,000. 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 in the last quarter. AXA bought a new stake in Alcoa during the first quarter valued at approximately $115,000. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in Alcoa during the second quarter valued at approximately $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 in the last quarter.
Alcoa Company Profile
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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