B. Riley Issues Positive Forecast for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its target price boosted by B. Riley from $37.00 to $38.00 in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other research firms also recently weighed in on AA. Barclays increased their target price on shares of Alcoa to $31.00 and gave the company a “hold” rating in a research report on Friday, May 16th. Citigroup raised shares of Alcoa to a “buy” rating and set a $42.00 price objective for the company in a report on Tuesday, July 8th. UBS Group reaffirmed a “neutral” rating and issued a $31.00 price objective on shares of Alcoa in a report on Thursday, May 15th. Bank of America raised their price objective on shares of Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a report on Thursday, July 17th. Finally, Morgan Stanley cut their price objective on shares of Alcoa from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.75.

Alcoa Stock Down 2.3%

Alcoa stock opened at $31.29 on Tuesday. Alcoa has a twelve month low of $21.53 and a twelve month high of $47.77. The firm has a 50 day moving average price of $30.71 and a 200-day moving average price of $29.35. The company has a market capitalization of $8.10 billion, a P/E ratio of 8.17, a P/E/G ratio of 0.18 and a beta of 2.26. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.41.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the prior year, the firm earned $0.16 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts predict that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 12th. Alcoa’s dividend payout ratio (DPR) is presently 10.44%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its holdings in Alcoa by 1,096.0% in the 2nd quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 822 shares during the period. Versant Capital Management Inc boosted its holdings in Alcoa by 134.7% in the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 520 shares during the period. Point72 Hong Kong Ltd bought a new position in Alcoa in the 4th quarter valued at $36,000. Horrell Capital Management Inc. bought a new position in Alcoa in the 2nd quarter valued at $30,000. Finally, Montag A & Associates Inc. bought a new position in Alcoa in the 1st quarter valued at $40,000.

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.