Alcoa (NYSE:AA) Receives $48.25 Average Price Target from Brokerages

Shares of Alcoa (NYSE:AA) have been assigned a consensus rating of “Hold” from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $50.4545.

Several equities analysts have recently commented on the stock. Wells Fargo & Company set a $68.00 price target on shares of Alcoa in a research report on Thursday. JPMorgan Chase & Co. upgraded Alcoa from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $50.00 to $68.00 in a research note on Friday. B. Riley Financial reaffirmed a “buy” rating on shares of Alcoa in a report on Friday, January 23rd. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Zacks Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th.

Alcoa Trading Up 4.8%

NYSE AA opened at $66.67 on Tuesday. Alcoa has a 12 month low of $21.53 and a 12 month high of $68.40. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 0.87. The company has a market capitalization of $17.59 billion, a price-to-earnings ratio of 15.08 and a beta of 1.85. The company’s fifty day moving average price is $61.64 and its two-hundred day moving average price is $47.24.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.31. The company had revenue of $6.75 billion during the quarter, compared to analyst estimates of $3.28 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the business earned $1.04 EPS. As a group, research analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, March 10th. Alcoa’s payout ratio is currently 9.05%.

Institutional Trading of Alcoa

A number of institutional investors and hedge funds have recently modified their holdings of AA. Pacer Advisors Inc. raised its stake in Alcoa by 455.9% during the third quarter. Pacer Advisors Inc. now owns 62,982 shares of the industrial products company’s stock worth $2,071,000 after acquiring an additional 51,652 shares during the period. Mackenzie Financial Corp lifted its holdings in Alcoa by 121.7% in the second quarter. Mackenzie Financial Corp now owns 1,569,358 shares of the industrial products company’s stock worth $46,312,000 after acquiring an additional 861,383 shares during the last quarter. Regal Partners Ltd boosted its stake in Alcoa by 7.0% in the third quarter. Regal Partners Ltd now owns 451,940 shares of the industrial products company’s stock valued at $14,864,000 after acquiring an additional 29,612 shares during the period. Drummond Knight Asset Management Pty Ltd acquired a new position in Alcoa in the second quarter valued at approximately $44,893,000. Finally, Nordea Investment Management AB grew its holdings in shares of Alcoa by 190.8% during the third quarter. Nordea Investment Management AB now owns 142,050 shares of the industrial products company’s stock valued at $4,592,000 after purchasing an additional 93,204 shares during the last quarter.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.