Alcoa’s (AA) “Equal Weight” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reissued their equal weight rating on shares of Alcoa (NYSE:AA) in a research report released on Tuesday morning, Marketbeat reports. Wells Fargo & Company currently has a $71.00 price target on the industrial products company’s stock, up from their previous price target of $58.00.

Other research analysts also recently issued reports about the stock. Zacks Research raised shares of Alcoa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. Morgan Stanley restated an “overweight” rating and set a $52.00 target price on shares of Alcoa in a report on Monday, December 15th. HSBC raised their target price on shares of Alcoa from $33.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, October 17th. B. Riley increased their price objective on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Finally, Citigroup boosted their price target on Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.83.

Alcoa Stock Down 1.1%

NYSE:AA opened at $63.88 on Tuesday. The firm has a market capitalization of $16.54 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 0.24 and a beta of 1.95. The stock has a 50 day moving average of $48.09 and a 200-day moving average of $38.05. Alcoa has a 52 week low of $21.53 and a 52 week high of $66.95. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.13. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts predict that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Tuesday, November 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is currently 9.24%.

Institutional Trading of Alcoa

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in shares of Alcoa by 1,096.0% during the second quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 822 shares during the period. Advisory Services Network LLC acquired a new position in shares of Alcoa during the 3rd quarter worth about $27,000. Root Financial Partners LLC bought a new stake in shares of Alcoa during the 3rd quarter worth approximately $29,000. Horrell Capital Management Inc. acquired a new position in shares of Alcoa during the 2nd quarter worth about $30,000. Finally, CoreCap Advisors LLC lifted its position in shares of Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after buying an additional 237 shares during the last quarter.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.