UBS Group Raises Alcoa (NYSE:AA) Price Target to $40.00

Alcoa (NYSE:AA) had its price target increased by UBS Group from $38.00 to $40.00 in a research note released on Thursday morning, Marketbeat Ratings reports. UBS Group currently has a buy rating on the industrial products company’s stock.

A number of other research analysts also recently issued reports on AA. Bank of America dropped their price objective on Alcoa from $46.00 to $43.00 and set a neutral rating on the stock in a research note on Thursday, July 18th. Wolfe Research raised Alcoa from a peer perform rating to an outperform rating and set a $36.00 target price for the company in a report on Wednesday, September 4th. StockNews.com raised Alcoa from a sell rating to a hold rating in a report on Thursday, July 18th. B. Riley increased their price objective on Alcoa from $37.00 to $41.00 and gave the company a neutral rating in a report on Tuesday, September 17th. Finally, Morgan Stanley dropped their target price on Alcoa from $50.00 to $48.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Alcoa currently has an average rating of Hold and an average price target of $40.45.

Alcoa Trading Down 3.1 %

Shares of AA stock opened at $33.83 on Thursday. The firm has a market capitalization of $6.07 billion, a P/E ratio of -9.00 and a beta of 2.42. Alcoa has a twelve month low of $23.07 and a twelve month high of $45.48. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $32.51 and its 200 day simple moving average is $35.71.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. Alcoa’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.35) EPS. As a group, sell-side analysts predict that Alcoa will post 0.7 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, August 12th. Alcoa’s payout ratio is -10.64%.

Hedge Funds Weigh In On Alcoa

Institutional investors and hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC acquired a new stake in shares of Alcoa during the fourth quarter worth $247,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Alcoa by 34.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 19,788 shares of the industrial products company’s stock worth $673,000 after buying an additional 5,058 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Alcoa by 4.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 37,158 shares of the industrial products company’s stock worth $1,263,000 after buying an additional 1,676 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Alcoa by 56.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after buying an additional 576 shares during the period. Finally, Norges Bank acquired a new position in Alcoa during the fourth quarter valued at $45,730,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

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.