Alcoa Inc. (AA) Given a $30.00 Price Target by Goldman Sachs Group Inc. Analysts
Alcoa Inc. (NYSE:AA) has been given a $30.00 price objective by research analysts at Goldman Sachs Group Inc. in a report issued on Monday. The firm currently has a a “hold” rating on the stock. Goldman Sachs Group Inc.’s target price points to a potential upside of 7.49% from the company’s current price.
A number of other equities analysts also recently weighed in on AA. Credit Suisse Group AG set a $39.00 price target on shares of Alcoa and gave the stock a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Alcoa in a research note on Tuesday, July 12th. BMO Capital Markets reaffirmed a “hold” rating and set a $9.00 price target on shares of Alcoa in a research note on Tuesday, July 12th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price objective on shares of Alcoa in a research report on Wednesday, June 15th. Finally, Macquarie reissued a “buy” rating on shares of Alcoa in a research report on Tuesday, July 12th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $13.31.
Shares of Alcoa (NYSE:AA) opened at 27.91 on Monday. The stock’s 50 day moving average is $29.84 and its 200 day moving average is $29.85. The stock’s market capitalization is $12.24 billion. Alcoa has a 52-week low of $18.42 and a 52-week high of $34.50.
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Alcoa (NYSE:AA) last posted its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.21. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.33 billion. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. Alcoa’s revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 earnings per share. Equities research analysts expect that Alcoa will post $0.44 earnings per share for the current fiscal year.
The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.43%. Alcoa’s payout ratio is currently -42.85%.
In other Alcoa news, Director Ulrich Schmidt purchased 5,000 shares of Alcoa stock in a transaction dated Wednesday, July 20th. The shares were bought at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $104,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
A number of hedge funds have recently modified their holdings of the stock. Orbis Allan Gray Ltd purchased a new stake in shares of Alcoa during the first quarter valued at $374,584,000. First Pacific Advisors LLC increased its stake in shares of Alcoa by 13.5% in the second quarter. First Pacific Advisors LLC now owns 64,456,242 shares of the company’s stock valued at $597,509,000 after buying an additional 7,650,380 shares in the last quarter. Slate Path Capital LP purchased a new stake in shares of Alcoa during the second quarter valued at $65,261,000. Systematic Financial Management LP purchased a new stake in shares of Alcoa during the second quarter valued at $43,763,000. Finally, Vanguard Group Inc. increased its stake in shares of Alcoa by 2.9% in the second quarter. Vanguard Group Inc. now owns 118,489,630 shares of the company’s stock valued at $1,098,398,000 after buying an additional 3,387,829 shares in the last quarter.
Alcoa Company Profile
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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