Alcoa Inc. (AA) Rating Reiterated by RBC Capital Markets
Alcoa Inc. (NYSE:AA)‘s stock had its “sector perform” rating restated by research analysts at RBC Capital Markets in a research report issued on Wednesday. They presently have a $31.00 price objective on the stock, down from their prior price objective of $33.00. RBC Capital Markets’ target price would indicate a potential upside of 14.35% from the company’s previous close.
A number of other research firms also recently issued reports on AA. Zacks Investment Research upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, October 4th. Morgan Stanley restated a “buy” rating and set a $12.00 price objective on shares of Alcoa in a report on Tuesday, August 16th. Credit Suisse Group AG restated a “buy” rating on shares of Alcoa in a report on Tuesday, July 12th. Berenberg Bank restated a “hold” rating and set a $9.00 price objective on shares of Alcoa in a report on Thursday, June 30th. Finally, Bank of America Corp. restated a “buy” rating on shares of Alcoa in a report on Friday, June 17th. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $16.83.
Shares of Alcoa (NYSE:AA) traded down 2.87% during mid-day trading on Wednesday, hitting $27.11. 19,127,840 shares of the stock were exchanged. The stock’s market capitalization is $11.89 billion. Alcoa has a 52 week low of $18.42 and a 52 week high of $34.50. The stock’s 50-day moving average is $29.84 and its 200-day moving average is $29.85.
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Alcoa (NYSE:AA) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.21. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The company had revenue of $5.21 billion for the quarter. During the same period in the previous year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. Analysts forecast that Alcoa will post $0.44 earnings per share for the current fiscal 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. The ex-dividend date is Wednesday, November 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.44%. Alcoa’s dividend payout ratio (DPR) is currently -42.85%.
In related news, Director Ulrich Schmidt bought 5,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was acquired at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $104,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
A number of large investors have recently made changes to their positions in AA. Cupps Capital Management LLC bought a new stake in shares of Alcoa during the first quarter valued at about $109,000. Citizens Financial Group Inc RI raised its stake 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 valued at $109,000 after buying an additional 1,401 shares during the last quarter. AXA bought a new stake in shares of Alcoa during the first quarter valued at about $115,000. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Alcoa during the second quarter valued at about $121,000. Finally, Savant Capital LLC raised its stake in shares of Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock valued at $122,000 after buying an additional 2,360 shares during 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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