UBS Group Raises Alcoa (NYSE:AA) Price Target to $32.00

Alcoa (NYSE:AAFree Report) had its price target lifted by UBS Group from $27.00 to $32.00 in a research note published on Friday, Benzinga reports. UBS Group currently has a sell rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on AA. JPMorgan Chase & Co. increased their target price on Alcoa from $30.00 to $32.00 and gave the company a neutral rating in a research note on Thursday, January 18th. Morgan Stanley increased their target price on Alcoa from $27.00 to $29.50 and gave the company an underweight rating in a research note on Thursday, January 18th. B. Riley raised their price objective on Alcoa from $25.00 to $31.00 and gave the company a neutral rating in a research note on Thursday. Bank of America raised their price objective on Alcoa from $31.00 to $32.00 and gave the company a neutral rating in a research note on Monday, March 18th. Finally, StockNews.com raised Alcoa from a sell rating to a hold rating in a research note on Tuesday, April 9th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $32.96.

Read Our Latest Stock Report on AA

Alcoa Trading Up 0.2 %

Shares of AA stock opened at $35.53 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.74 and a current ratio of 1.61. Alcoa has a 52-week low of $23.07 and a 52-week high of $42.23. The company has a market capitalization of $6.38 billion, a PE ratio of -9.45, a price-to-earnings-growth ratio of 2.41 and a beta of 2.47. The business’s fifty day moving average is $31.14 and its 200 day moving average is $29.09.

Alcoa (NYSE:AAGet Free Report) last issued its quarterly earnings data 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). The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.23) EPS. On average, equities research analysts anticipate that Alcoa will post 0.17 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. Alcoa’s dividend payout ratio is currently -10.64%.

Insider Transactions at Alcoa

In other news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the sale, the executive vice president now directly owns 41,166 shares in the company, valued at $1,267,089.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Trading of Alcoa

Several institutional investors and hedge funds have recently bought and sold shares of AA. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Alcoa by 4,737.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,578,275 shares of the industrial products company’s stock worth $208,174,000 after buying an additional 4,483,625 shares during the period. Renaissance Technologies LLC purchased a new stake in Alcoa in the first quarter worth about $318,670,000. Norges Bank purchased a new stake in Alcoa in the fourth quarter worth about $128,592,000. Voloridge Investment Management LLC lifted its holdings in Alcoa by 178.0% in the fourth quarter. Voloridge Investment Management LLC now owns 2,410,104 shares of the industrial products company’s stock worth $81,944,000 after buying an additional 1,543,244 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Alcoa in the third quarter worth about $39,557,000.

About Alcoa

(Get Free Report)

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.

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Analyst Recommendations for Alcoa (NYSE:AA)

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