Deutsche Bank AG Cuts Alcoa Inc. (AA) Price Target to $33.00
Alcoa Inc. (NYSE:AA) had its target price dropped by equities researchers at Deutsche Bank AG to $33.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the stock. Deutsche Bank AG’s target price points to a potential upside of 21.73% from the company’s current price.
A number of other equities analysts have also recently issued reports on the company. Credit Suisse Group AG set a $39.00 target price on Alcoa and gave the stock a “buy” rating in a report on Saturday, October 8th. Royal Bank Of Canada cut their target price on Alcoa to $31.00 and set a “sector perform” rating on the stock in a report on Wednesday. Bank of America Corp. reiterated a “buy” rating and issued a $33.00 target price on shares of Alcoa in a report on Wednesday. Cowen and Company reiterated a “hold” rating on shares of Alcoa in a report on Tuesday, July 12th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $12.00 target price (up from $11.00) on shares of Alcoa in a report on Thursday, June 30th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $17.74.
Alcoa (NYSE:AA) opened at 26.345 on Wednesday. The firm’s market capitalization is $11.55 billion. The firm has a 50 day moving average of $29.72 and a 200 day moving average of $29.83. Alcoa has a 12-month low of $18.42 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.21. The firm had revenue of $5.21 billion for the quarter. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. Alcoa’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, analysts forecast that Alcoa will post $0.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s payout ratio is presently -63.15%.
In related news, Director Ulrich Schmidt bought 5,000 shares of Alcoa stock in a transaction on Wednesday, July 20th. The stock was acquired at an average price of $10.40 per share, with a total value of $52,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $104,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Canandaigua National Bank & Trust Co. increased its stake in shares of Alcoa by 0.3% in the third quarter. Canandaigua National Bank & Trust Co. now owns 26,223 shares of the company’s stock worth $266,000 after buying an additional 79 shares during the period. Patten & Patten Inc. TN increased its stake in shares of Alcoa by 46.1% in the third quarter. Patten & Patten Inc. TN now owns 187,177 shares of the company’s stock worth $1,898,000 after buying an additional 59,050 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Alcoa by 0.9% in the third quarter. Nisa Investment Advisors LLC now owns 174,582 shares of the company’s stock worth $1,770,000 after buying an additional 1,618 shares during the period. Capstone Asset Management Co. increased its stake in shares of Alcoa by 1.4% in the third quarter. Capstone Asset Management Co. now owns 199,869 shares of the company’s stock worth $2,027,000 after buying an additional 2,802 shares during the period. Finally, British Columbia Investment Management Corp increased its stake in shares of Alcoa by 9.8% in the third quarter. British Columbia Investment Management Corp now owns 556,317 shares of the company’s stock worth $5,641,000 after buying an additional 49,809 shares during the period.
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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