Alcoa Inc. (AA) PT Raised to $30.00 at Cowen and Company
Alcoa Inc. (NYSE:AA) had its price objective hoisted by Cowen and Company from $10.00 to $30.00 in a research report issued on Thursday. The firm presently has a “market perform” rating on the stock. Cowen and Company’s target price suggests a potential upside of 10.66% from the stock’s previous close.
A number of other analysts have also recently weighed in on AA. Credit Suisse Group AG set a $39.00 target price on shares of Alcoa and gave the stock a “buy” rating in a research note on Saturday, October 8th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Alcoa in a research note on Tuesday, July 12th. BMO Capital Markets reissued a “hold” rating and issued a $9.00 price objective on shares of Alcoa in a research note on Tuesday, July 12th. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price objective on shares of Alcoa in a report on Wednesday, June 15th. Finally, Deutsche Bank AG decreased their price objective on Alcoa to $33.00 and set a “buy” rating for the company in a report on Wednesday. Ten research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $17.74.
Alcoa (NYSE:AA) opened at 27.11 on Thursday. The company’s market cap is $11.89 billion. The firm’s 50-day moving average price is $29.71 and its 200-day moving average price is $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 earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share 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 negative net margin of 0.88% and a positive return on equity of 3.87%. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. Equities research analysts forecast that Alcoa will post $0.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.44%. Alcoa’s dividend payout ratio is currently -63.15%.
In other news, Director Ulrich Schmidt bought 5,000 shares of the company’s stock in a transaction on 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Several institutional investors have recently bought and sold shares of AA. Canandaigua National Bank & Trust Co. boosted its position in Alcoa by 0.3% in the third quarter. Canandaigua National Bank & Trust Co. now owns 26,223 shares of the company’s stock valued at $266,000 after buying an additional 79 shares in the last quarter. Patten & Patten Inc. TN boosted its position in Alcoa by 46.1% in the third quarter. Patten & Patten Inc. TN now owns 187,177 shares of the company’s stock valued at $1,898,000 after buying an additional 59,050 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Alcoa by 0.9% in the third quarter. Nisa Investment Advisors LLC now owns 174,582 shares of the company’s stock valued at $1,770,000 after buying an additional 1,618 shares in the last quarter. Capstone Asset Management Co. boosted its position in Alcoa by 1.4% in the third quarter. Capstone Asset Management Co. now owns 199,869 shares of the company’s stock valued at $2,027,000 after buying an additional 2,802 shares in the last quarter. Finally, British Columbia Investment Management Corp boosted its position in Alcoa by 9.8% in the third quarter. British Columbia Investment Management Corp now owns 556,317 shares of the company’s stock valued at $5,641,000 after buying an additional 49,809 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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