Alcoa (NYSE:AA) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Alcoa (NYSE:AA - Free Report) from a buy rating to a hold rating in a report published on Thursday morning.

A number of other equities research analysts have also issued reports on AA. JPMorgan Chase & Co. dropped their target price on Alcoa from $28.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Barclays raised their price target on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a research note on Friday, May 16th. HC Wainwright boosted their price objective on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. B. Riley reduced their target price on shares of Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Finally, Morgan Stanley lowered their price target on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $42.50.

Alcoa Stock Up 0.8%

AA traded up $0.24 during trading on Thursday, hitting $28.31. The company had a trading volume of 1,950,967 shares, compared to its average volume of 5,905,097. The company has a market capitalization of $7.33 billion, a PE ratio of -176.91, a PEG ratio of 0.19 and a beta of 2.29. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. Alcoa has a one year low of $21.53 and a one year high of $47.77. The firm's 50-day moving average price is $27.15 and its 200 day moving average price is $34.25.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.42. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.58 billion. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. As a group, equities analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Tuesday, May 20th. Alcoa's dividend payout ratio (DPR) is presently 12.05%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in Alcoa by 77.1% during the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock worth $26,000 after purchasing an additional 296 shares during the period. Versant Capital Management Inc raised its stake in Alcoa by 134.7% in the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock valued at $28,000 after buying an additional 520 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Alcoa in the fourth quarter valued at approximately $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of Alcoa in the fourth quarter valued at approximately $36,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Alcoa by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after acquiring an additional 393 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.