Alcoa (NYSE:AA) Stock Rating Upgraded by Wall Street Zen

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

Several other equities analysts have also recently weighed in on AA. Bank of America reissued an "underperform" rating and set a $26.00 price objective (down previously from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. B. Riley cut their target price 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 HC Wainwright upped their target price on shares of Alcoa to $90.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. UBS Group reaffirmed a "neutral" rating and set a $31.00 price objective on shares of Alcoa in a research report on Thursday, May 15th. Finally, Barclays upped their price objective on shares of Alcoa to $31.00 and gave the company a "hold" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Alcoa currently has an average rating of "Hold" and an average price target of $42.50.

Alcoa Stock Performance

Shares of AA stock traded down $0.26 during trading on Friday, reaching $28.75. The company had a trading volume of 5,186,059 shares, compared to its average volume of 5,587,673. The firm's 50 day simple moving average is $26.72 and its two-hundred day simple moving average is $32.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.71 and a quick ratio of 1.00. Alcoa has a one year low of $21.53 and a one year high of $47.77. The company has a market capitalization of $7.44 billion, a PE ratio of 8.66, a PEG ratio of 0.16 and a beta of 2.26.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. Sell-side analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.39%. Alcoa's dividend payout ratio is currently 12.05%.

Institutional Investors Weigh In On Alcoa

Large investors have recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in Alcoa during the 4th quarter worth about $259,000. Savant Capital LLC boosted its holdings in Alcoa by 41.1% in the fourth quarter. Savant Capital LLC now owns 7,819 shares of the industrial products company's stock valued at $295,000 after acquiring an additional 2,278 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Alcoa by 50.6% in the 4th quarter. Vontobel Holding Ltd. now owns 17,821 shares of the industrial products company's stock valued at $673,000 after purchasing an additional 5,985 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Alcoa by 1.6% in the 4th quarter. Rhumbline Advisers now owns 688,784 shares of the industrial products company's stock valued at $26,022,000 after purchasing an additional 11,094 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Alcoa by 13.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 95,587 shares of the industrial products company's stock valued at $3,611,000 after purchasing an additional 11,128 shares during the last quarter.

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.