Alcoa (NYSE:AA) Receives $42.33 Consensus Price Target from Brokerages

Shares of Alcoa (NYSE:AA - Get Free Report) have received an average recommendation of "Hold" from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $42.33.

A number of brokerages have commented on AA. HC Wainwright raised their price objective on Alcoa to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. UBS Group reaffirmed a "neutral" rating and issued a $31.00 target price on shares of Alcoa in a research report on Thursday, May 15th. Bank of America reissued an "underperform" rating and issued a $26.00 price target (down previously from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $25.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Finally, B. Riley reaffirmed a "buy" rating and set a $38.00 price objective (down from $43.00) on shares of Alcoa in a report on Tuesday, June 24th.

Institutional Trading of Alcoa

Several hedge funds have recently modified their holdings of AA. Vanguard Group Inc. boosted its holdings in shares of Alcoa by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company's stock worth $981,491,000 after acquiring an additional 165,420 shares in the last quarter. Norges Bank acquired a new position in Alcoa in the fourth quarter worth $259,273,000. Dimensional Fund Advisors LP boosted its stake in Alcoa by 33.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company's stock worth $207,490,000 after purchasing an additional 1,721,222 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alcoa by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company's stock worth $159,966,000 after purchasing an additional 39,022 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Alcoa by 46.8% in the fourth quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock valued at $96,324,000 after buying an additional 813,214 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company's stock.

Alcoa Stock Performance

Alcoa stock traded down $0.33 during mid-day trading on Thursday, reaching $31.20. The company had a trading volume of 3,040,872 shares, compared to its average volume of 5,660,918. The company has a quick ratio of 1.00, a current ratio of 1.71 and a debt-to-equity ratio of 0.43. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.19 and a beta of 2.25. The company has a 50 day moving average of $27.85 and a 200-day moving average of $31.46. Alcoa has a 52 week low of $21.53 and a 52 week high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.42. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. On average, sell-side analysts expect that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were given a $0.10 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.28%. Alcoa's dividend payout ratio (DPR) is presently 12.05%.

Alcoa Company Profile

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.