Alcoa (NYSE:AA) Receives $61.09 Consensus Price Target from Analysts

Alcoa (NYSE:AA) has been assigned an average rating of “Hold” from the twelve ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $61.0909.

A number of equities research analysts have issued reports on AA shares. Argus lowered their target price on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. UBS Group decreased their price objective on Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Zacks Research downgraded Alcoa from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Finally, Wall Street Zen raised shares of Alcoa from a “hold” rating to a “buy” rating in a report on Saturday, August 1st.

Alcoa Price Performance

Alcoa stock opened at $54.16 on Friday. The business’s 50 day simple moving average is $53.61 and its 200 day simple moving average is $60.78. Alcoa has a 12 month low of $28.92 and a 12 month high of $84.38. The company has a market cap of $14.29 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.58 and a beta of 1.63. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30.

Alcoa (NYSE:AA) last released its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the business earned $0.39 earnings per share. Sell-side analysts forecast that Alcoa will post 6.55 EPS for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Alcoa’s dividend payout ratio is 8.23%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Alcoa in the second quarter worth $1,528,523,000. Dimensional Fund Advisors LP grew its position in Alcoa by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,580,803 shares of the industrial products company’s stock worth $615,428,000 after buying an additional 462,243 shares in the last quarter. State Street Corp increased its stake in Alcoa by 6.7% in the 3rd quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock worth $376,871,000 after acquiring an additional 721,063 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Alcoa by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company’s stock valued at $389,621,000 after acquiring an additional 349,426 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Alcoa by 211.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock valued at $332,338,000 after acquiring an additional 4,247,559 shares in 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.