Alcoa (NYSE:AA) Given New $37.00 Price Target at BMO Capital Markets

Alcoa (NYSE:AA) had its price target increased by BMO Capital Markets from $35.00 to $37.00 in a research report report published on Thursday morning, MarketBeat reports. BMO Capital Markets currently has a market perform rating on the industrial products company’s stock.

Several other research analysts have also weighed in on AA. UBS Group initiated coverage on shares of Alcoa in a research note on Tuesday, January 16th. They set a sell rating and a $29.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Alcoa from $30.00 to $32.00 and gave the stock a neutral rating in a research note on Thursday, January 18th. StockNews.com raised shares of Alcoa from a sell rating to a hold rating in a research note on Tuesday, April 9th. Bank of America lifted their price objective on shares of Alcoa from $31.00 to $32.00 and gave the stock a neutral rating in a research note on Monday, March 18th. Finally, Morgan Stanley lifted their price target on shares of Alcoa from $27.00 to $29.50 and gave the company an underweight rating in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $32.71.

Alcoa Stock Down 0.2 %

Shares of NYSE AA opened at $35.48 on Thursday. The firm has a market capitalization of $6.37 billion, a PE ratio of -9.72, a price-to-earnings-growth ratio of 2.32 and a beta of 2.47. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30. Alcoa has a 1 year low of $23.07 and a 1 year high of $42.23. The firm’s 50-day moving average is $30.97 and its 200-day moving average is $29.02.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Alcoa had a negative return on equity of 6.56% and a negative net margin of 6.17%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the business earned ($0.23) EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. Equities analysts expect that Alcoa will post 0.33 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Monday, March 4th. Alcoa’s dividend payout ratio is presently -10.96%.

Insider Transactions at Alcoa

In other news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the sale, the executive vice president now owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.08% of the stock is currently owned by insiders.

Institutional Trading of Alcoa

Institutional investors have recently made changes to their positions in the business. Fairfield Bush & CO. acquired a new position in Alcoa during the first quarter worth $29,000. Neo Ivy Capital Management acquired a new position in Alcoa during the second quarter worth $27,000. Resurgent Financial Advisors LLC acquired a new position in Alcoa during the fourth quarter worth $32,000. ICA Group Wealth Management LLC acquired a new position in Alcoa during the fourth quarter worth $36,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in Alcoa during the fourth quarter worth $31,000. Institutional investors own 82.39% of the company’s stock.

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.