Alcoa (NYSE:AA) Stock Has Consensus Target Price of $61.42 According to Analysts

Shares of Alcoa (NYSE:AA) have been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $61.42.

A number of brokerages recently issued reports on AA. B. Riley Financial lowered their price target on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $53.00 price objective (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Bank of America lowered their target price on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a research note on Thursday, July 9th. Finally, Zacks Research upgraded Alcoa from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th.

Insider Buying and Selling at Alcoa

In related news, EVP Renato Bacchi sold 700 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $51.02, for a total value of $35,714.00. Following the transaction, the executive vice president directly owned 74,930 shares of the company’s stock, valued at approximately $3,822,928.60. This trade represents a 0.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tammi Jones sold 15,628 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total value of $790,776.80. Following the sale, the executive vice president owned 39,819 shares of the company’s stock, valued at approximately $2,014,841.40. This trade represents a 28.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Trading of Alcoa

A number of institutional investors have recently made changes to their positions in the company. Checchi Capital Advisers LLC lifted its stake in shares of Alcoa by 3.4% in the first quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock worth $341,000 after buying an additional 170 shares in the last quarter. Essential Partners LLC boosted its position in Alcoa by 0.9% during the first quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company’s stock worth $1,361,000 after acquiring an additional 193 shares during the last quarter. Himension Capital Singapore PTE. LTD. grew its stake in Alcoa by 1.3% during the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company’s stock valued at $1,235,000 after acquiring an additional 246 shares in the last quarter. Sage Rhino Capital LLC grew its stake in Alcoa by 7.0% during the 1st quarter. Sage Rhino Capital LLC now owns 4,276 shares of the industrial products company’s stock valued at $284,000 after acquiring an additional 279 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in Alcoa by 4.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,373 shares of the industrial products company’s stock valued at $332,000 after acquiring an additional 282 shares in the last quarter.

Alcoa Stock Down 0.2%

Shares of AA stock opened at $41.97 on Friday. Alcoa has a twelve month low of $33.77 and a twelve month high of $84.38. The stock has a market cap of $11.08 billion, a P/E ratio of 8.64, a P/E/G ratio of 0.47 and a beta of 1.74. The stock has a 50 day moving average of $47.71 and a 200 day moving average of $57.29. 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 issued its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period in the previous year, the business earned $0.39 EPS. As a group, sell-side analysts expect that Alcoa will post 6.61 EPS for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Alcoa’s dividend payout ratio (DPR) is 8.23%.

Alcoa Company Profile

Alcoa Corporation (NYSE:AA) is a global producer of aluminum and an integrated participant in the aluminum industry. Its operations span the value chain from bauxite mining and alumina refining to aluminum smelting, casting and recycling.

The company supplies aluminum products used in transportation, building and construction, packaging, aerospace, automotive, electrical and other industrial applications. Its portfolio includes primary aluminum, alumina, aluminum billets and other cast products, as well as low-carbon and recycled aluminum offerings.

Alcoa traces its origins to the Pittsburgh Reduction Company, founded in 1888, and has helped develop the modern aluminum industry.