Alcoa (NYSE:AA) Price Target Raised to $31.00 at B. Riley

Alcoa (NYSE:AA) had its price objective boosted by B. Riley from $25.00 to $31.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group upped their price objective on Alcoa from $45.00 to $48.00 and gave the company a buy rating in a research note on Thursday. Morgan Stanley upped their price objective on Alcoa from $27.00 to $29.50 and gave the company an underweight rating in a research note on Thursday, January 18th. StockNews.com upgraded Alcoa from a sell rating to a hold rating in a research note on Tuesday, April 9th. Bank of America upped their price objective on Alcoa from $31.00 to $32.00 and gave the company a neutral rating in a research note on Monday, March 18th. Finally, BMO Capital Markets upped their price objective on Alcoa from $35.00 to $37.00 and gave the company a market perform rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $32.71.

Alcoa Trading Down 0.2 %

Alcoa stock opened at $35.48 on Thursday. The business has a 50 day moving average price of $30.97 and a two-hundred day moving average price of $29.02. The company has a quick ratio of 0.74, a current ratio of 1.45 and a debt-to-equity ratio of 0.30. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of -9.72, a price-to-earnings-growth ratio of 2.32 and a beta of 2.47. Alcoa has a 12 month low of $23.07 and a 12 month high of $42.23.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the company earned ($0.23) EPS. As a group, equities analysts forecast that Alcoa will post 0.33 EPS for the current year.

Alcoa Announces Dividend

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

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the transaction, the executive vice president now directly owns 41,166 shares in the company, valued at approximately $1,267,089.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.08% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Neo Ivy Capital Management acquired a new position in shares of Alcoa in the 2nd quarter valued at $27,000. Fairfield Bush & CO. acquired a new position in shares of Alcoa in the 1st quarter valued at $29,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Alcoa in the 4th quarter valued at $31,000. Resurgent Financial Advisors LLC acquired a new position in shares of Alcoa in the 4th quarter valued at $32,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Alcoa in the 4th quarter valued at $33,000. Institutional investors and hedge funds 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.