UBS Group Boosts Alcoa (NYSE:AA) Price Target to $32.00

Alcoa (NYSE:AA) had its price objective upped by UBS Group from $27.00 to $32.00 in a report released on Friday, Benzinga reports. UBS Group currently has a sell rating on the industrial products company’s stock.

Several other equities analysts also recently commented on AA. Morgan Stanley increased their target price on Alcoa from $27.00 to $29.50 and gave the company an underweight rating in a research report on Thursday, January 18th. B. Riley raised their price objective on Alcoa from $25.00 to $31.00 and gave the stock a neutral rating in a research report on Thursday. Bank of America raised their price objective on Alcoa from $31.00 to $32.00 and gave the stock a neutral rating in a research report on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on Alcoa from $30.00 to $32.00 and gave the stock a neutral rating in a report on Thursday, January 18th. Finally, Jefferies Financial Group lifted their target price on Alcoa from $45.00 to $48.00 and gave the stock a buy rating in a report on Thursday. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $32.96.

Alcoa Stock Performance

NYSE:AA opened at $35.53 on Friday. The stock’s 50-day simple moving average is $31.14 and its 200 day simple moving average is $29.06. The firm has a market capitalization of $6.38 billion, a PE ratio of -9.45, a price-to-earnings-growth ratio of 2.28 and a beta of 2.47. The company has a quick ratio of 0.74, a current ratio of 1.45 and a debt-to-equity ratio of 0.30. Alcoa has a twelve month low of $23.07 and a twelve month high of $42.23.

Alcoa (NYSE:AA) last posted its 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 the consensus estimate of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.30%. Alcoa’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.23) earnings per share. On average, analysts anticipate that Alcoa will post 0.33 EPS for the current fiscal 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 issued a dividend of $0.10 per share. The ex-dividend date of this dividend 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 currently -10.64%.

Insider Buying and Selling

In related news, EVP Tammi A. Jones sold 26,468 shares of Alcoa stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the sale, the executive vice president now directly owns 41,166 shares in the company, valued at $1,267,089.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Alcoa

Several hedge funds have recently made changes to their positions in AA. Fairfield Bush & CO. bought a new stake in shares of Alcoa during the 1st quarter valued at $29,000. Neo Ivy Capital Management bought a new stake in shares of Alcoa during the 2nd quarter valued at $27,000. Resurgent Financial Advisors LLC bought a new stake in shares of Alcoa during the 4th quarter valued at $32,000. ICA Group Wealth Management LLC bought a new stake in shares of Alcoa during the 4th quarter valued at $36,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Alcoa during the 4th quarter valued at $31,000.

Alcoa Company Profile

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.