Alcoa Inc. (AA) PT Set at $39.00 by Credit Suisse Group AG
Alcoa Inc. (NYSE:AA) has been given a $39.00 price target by stock analysts at Credit Suisse Group AG in a research note issued to investors on Saturday. The brokerage currently has a a “buy” rating on the stock. Credit Suisse Group AG’s price objective would suggest a potential upside of 24.32% from the stock’s previous close.
Several other equities analysts have also recently weighed in on AA. Berenberg Bank reaffirmed a “hold” rating and set a $9.00 target price on shares of Alcoa in a research note on Tuesday, June 14th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price objective on shares of Alcoa in a research note on Wednesday, June 15th. Bank of America Corp. reissued a “buy” rating on shares of Alcoa in a research note on Friday, June 17th. Morgan Stanley reissued an “overweight” rating and issued a $12.00 price objective (up from $11.00) on shares of Alcoa in a research note on Thursday, June 30th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Alcoa in a research note on Tuesday, July 12th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.34.
Shares of Alcoa (NYSE:AA) traded down 1.29% during trading on Friday, hitting $31.37. 7,858,603 shares of the company traded hands. The company has a 50 day moving average price of $29.91 and a 200 day moving average price of $29.82. Alcoa has a 52 week low of $18.42 and a 52 week high of $34.50. The company’s market capitalization is $13.75 billion.
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Alcoa (NYSE:AA) last posted its earnings results on Monday, July 11th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.06. The company earned $5.30 billion during the quarter. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The business’s revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share. On average, analysts expect that Alcoa will post $0.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s payout ratio is currently -42.85%.
In other news, Director Ulrich Schmidt acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were purchased at an average price of $10.40 per share, with a total value of $52,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $104,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Several hedge funds and other institutional investors have recently modified their holdings of AA. Beacon Capital Management purchased a new position in shares of Alcoa during the fourth quarter worth about $0. Cupps Capital Management LLC purchased a new position in shares of Alcoa during the first quarter worth about $109,000. Citizens Financial Group Inc RI increased its position in shares of Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock worth $109,000 after buying an additional 1,401 shares during the last quarter. AXA purchased a new position in shares of Alcoa during the first quarter worth about $115,000. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Alcoa during the second quarter worth about $121,000.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
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