Alcoa (NYSE:AA) Reaches New 1-Year Low - What's Next?

Alcoa Co. (NYSE:AA - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The stock traded as low as $23.60 and last traded at $24.55, with a volume of 5389275 shares trading hands. The stock had previously closed at $25.19.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. UBS Group decreased their price target on shares of Alcoa from $47.00 to $32.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley cut their price target on Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Bank of America restated an "underperform" rating and set a $26.00 price objective (down previously from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. BMO Capital Markets increased their target price on Alcoa to $43.00 and gave the stock a "hold" rating in a report on Friday, January 17th. Finally, B. Riley decreased their price target on shares of Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.17.

Alcoa Price Performance

The company has a market capitalization of $6.62 billion, a P/E ratio of -159.94, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28. The business's 50-day moving average is $28.87 and its two-hundred day moving average is $35.91. 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 (NYSE:AA - Get Free Report) last released its 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 company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. As a group, analysts predict that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.56%. Alcoa's payout ratio is currently 12.05%.

Institutional Investors Weigh In On Alcoa

Several large investors have recently modified their holdings of the stock. 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 valued at $26,000 after purchasing an additional 296 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Alcoa during the 4th quarter valued at $29,000. Versant Capital Management Inc grew its stake in shares of Alcoa by 134.7% during the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock worth $28,000 after acquiring an additional 520 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Alcoa in the 4th quarter worth about $36,000. Finally, Smartleaf Asset Management LLC raised its stake in Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 393 shares during the period. Hedge funds and other institutional investors own 82.39% of the company's stock.

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.