Alcoa (NYSE:AA) Price Target Lowered to $50.00 at Credit Suisse Group

Alcoa (NYSE:AAGet Rating) had its target price decreased by Credit Suisse Group from $63.00 to $50.00 in a research report report published on Wednesday morning, The Fly reports. Credit Suisse Group currently has a neutral rating on the industrial products company’s stock.

AA has been the topic of several other research reports. The Goldman Sachs Group cut their price objective on Alcoa from $90.00 to $80.00 and set a buy rating on the stock in a report on Friday, July 22nd. BMO Capital Markets cut their price objective on Alcoa from $57.00 to $55.00 in a report on Thursday, July 21st. B. Riley cut their price objective on Alcoa from $84.00 to $54.00 and set a neutral rating on the stock in a report on Tuesday, June 28th. Finally, Morgan Stanley raised Alcoa from an equal weight rating to an overweight rating and raised their price objective for the company from $51.00 to $66.00 in a report on Friday, September 16th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $78.82.

Alcoa Trading Down 9.5 %

Shares of AA stock opened at $39.41 on Wednesday. The stock’s fifty day moving average price is $48.85 and its two-hundred day moving average price is $60.85. The company has a market cap of $7.09 billion, a PE ratio of 7.74, a P/E/G ratio of 0.64 and a beta of 2.31. Alcoa has a fifty-two week low of $39.37 and a fifty-two week high of $98.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.02 and a current ratio of 1.81.

Alcoa (NYSE:AAGet Rating) last issued its earnings results on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $3.71 by ($1.04). The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.48 billion. Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.49 EPS. Equities analysts predict that Alcoa will post 7.16 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Tuesday, August 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Monday, August 8th. Alcoa’s dividend payout ratio (DPR) is presently 7.86%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Amundi raised its position in shares of Alcoa by 2.7% in the 2nd quarter. Amundi now owns 1,311,790 shares of the industrial products company’s stock worth $53,533,000 after acquiring an additional 34,135 shares in the last quarter. Verition Fund Management LLC raised its position in shares of Alcoa by 342.8% in the 2nd quarter. Verition Fund Management LLC now owns 18,895 shares of the industrial products company’s stock worth $861,000 after acquiring an additional 14,628 shares in the last quarter. Prelude Capital Management LLC bought a new position in shares of Alcoa in the 2nd quarter worth about $567,000. Legal & General Group Plc raised its position in shares of Alcoa by 47.5% in the 2nd quarter. Legal & General Group Plc now owns 888,868 shares of the industrial products company’s stock worth $40,514,000 after acquiring an additional 286,414 shares in the last quarter. Finally, ExodusPoint Capital Management LP raised its position in shares of Alcoa by 95.3% in the 2nd quarter. ExodusPoint Capital Management LP now owns 172,645 shares of the industrial products company’s stock worth $7,869,000 after acquiring an additional 84,231 shares in the last quarter.

Alcoa Company Profile

(Get Rating)

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 three segments: Bauxite, 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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