Alcoa (NYSE:AA) Price Target Lowered to $51.00 at Bank of America

Alcoa (NYSE:AA) had its price target decreased by Bank of America from $57.00 to $51.00 in a research report report published on Thursday morning,Benzinga reports. Bank of America currently has an underperform rating on the industrial products company’s stock.

Other analysts have also recently issued reports about the stock. BMO Capital Markets boosted their price objective on shares of Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Citigroup raised their target price on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, March 16th. JPMorgan Chase & Co. boosted their target price on shares of Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Morgan Stanley restated an “equal weight” rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a report on Wednesday. Finally, Wall Street Zen downgraded Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $64.91.

Alcoa Stock Performance

AA opened at $48.78 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The company has a market cap of $12.87 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 0.70 and a beta of 1.63. The stock has a 50-day moving average of $63.55 and a 200-day moving average of $62.78. Alcoa has a 52-week low of $28.11 and a 52-week high of $84.38.

Alcoa (NYSE:AA) last posted its earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.20). The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.15 earnings per share. As a group, equities research analysts forecast that Alcoa will post 8.07 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Alcoa’s dividend payout ratio is presently 10.13%.

Institutional Trading of Alcoa

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Basepoint Wealth LLC bought a new position in shares of Alcoa during the 4th quarter worth about $25,000. Advisory Services Network LLC bought a new stake in shares of Alcoa in the third quarter valued at about $27,000. Raleigh Capital Management Inc. lifted its stake in shares of Alcoa by 52,500.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after buying an additional 525 shares during the period. CoreCap Advisors LLC grew its position in Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after buying an additional 237 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after buying an additional 581 shares in the last quarter.

Trending Headlines about Alcoa

Here are the key news stories impacting Alcoa this week:

• Positive Sentiment: Wells Fargo raised its price target on Alcoa to $72 from $71 and kept an overweight rating, signaling one analyst still sees meaningful upside. Alcoa had its price target raised by Wells Fargo & Company
• Neutral Sentiment: Alcoa was added to the Zacks Rank #5 “Strong Sell” list, which may reinforce bearish sentiment but is a model-based signal rather than a company-specific event. New Strong Sell Stocks for July 9th
• Neutral Sentiment: Benzinga highlighted Alcoa as one of several “oversold” materials stocks with RSI near or below 30, which could attract bargain hunters if investors look for a rebound. New Strong Sell Stocks for July 9th
• Negative Sentiment: Analyst sentiment has deteriorated as Morgan Stanley, JPMorgan, and Bank of America all trimmed their valuation views, citing weaker aluminum fundamentals and a less favorable supply outlook. Morgan Stanley upgrades Ivanhoe Mines, cuts Alcoa and Vale on metals outlook

Alcoa Company Profile

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.