Alcoa (NYSE:AA) Given New $32.00 Price Target at UBS Group

Alcoa (NYSE:AA - Free Report) had its price target boosted by UBS Group from $27.00 to $32.00 in a research report released on Friday, Benzinga reports. UBS Group currently has a sell rating on the industrial products company's stock.

Several other brokerages have also weighed in on AA. Morgan Stanley boosted their price objective on Alcoa from $27.00 to $29.50 and gave the company an underweight rating in a report on Thursday, January 18th. StockNews.com raised Alcoa from a sell rating to a hold rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective on Alcoa from $30.00 to $32.00 and gave the company a neutral rating in a report on Thursday, January 18th. BMO Capital Markets boosted their price objective on Alcoa from $35.00 to $37.00 and gave the company a market perform rating in a report on Thursday. Finally, B. Riley boosted their price objective on Alcoa from $25.00 to $31.00 and gave the company a neutral rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $32.96.

Alcoa Stock Up 0.2 %

NYSE:AA traded up $0.06 during mid-day trading on Friday, hitting $35.53. The company had a trading volume of 8,014,809 shares, compared to its average volume of 6,457,585. Alcoa has a 1 year low of $23.07 and a 1 year high of $42.23. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of -9.45, a PEG ratio of 2.28 and a beta of 2.47. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $31.14 and a 200-day simple moving average of $29.06.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.30% and a negative net margin of 6.41%. The business had revenue of $2.60 billion for the quarter, compared to analysts' expectations of $2.55 billion. During the same period in the previous year, the firm posted ($0.23) earnings per share. The firm's revenue was down 2.7% compared to the same quarter last year. Equities analysts forecast that Alcoa will post 0.33 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. Alcoa's dividend payout ratio is presently -10.64%.

Insider Transactions at Alcoa

In other news, EVP Tammi A. Jones sold 26,468 shares of the business's stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the transaction, the executive vice president now directly owns 41,166 shares in the company, valued at $1,267,089.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Alcoa

A number of institutional investors have recently added to or reduced their stakes in AA. State Street Corp increased its holdings in shares of Alcoa by 3.4% in the first quarter. State Street Corp now owns 8,273,477 shares of the industrial products company's stock valued at $352,119,000 after buying an additional 271,387 shares in the last quarter. Morgan Stanley raised its stake in Alcoa by 24.9% during the 3rd quarter. Morgan Stanley now owns 5,941,667 shares of the industrial products company's stock valued at $172,665,000 after purchasing an additional 1,185,323 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Alcoa by 4,737.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,578,275 shares of the industrial products company's stock valued at $208,174,000 after acquiring an additional 4,483,625 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Alcoa by 34.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,312,340 shares of the industrial products company's stock valued at $146,626,000 after acquiring an additional 1,104,423 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Alcoa during the 1st quarter valued at $318,670,000.

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.