Alcoa (NYSE:AA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Alcoa (NYSE:AA) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $42.3462.

AA has been the subject of several research reports. BMO Capital Markets increased their price target on shares of Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. UBS Group increased their target price on shares of Alcoa from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, September 19th. B. Riley raised their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a report on Tuesday. Finally, Morgan Stanley set a $43.50 price objective on Alcoa in a report on Friday, October 24th.

Alcoa Stock Performance

Shares of AA opened at $42.02 on Friday. The stock has a 50 day moving average of $36.62 and a 200 day moving average of $32.34. The company has a market capitalization of $10.88 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 0.22 and a beta of 2.26. Alcoa has a 12 month low of $21.53 and a 12 month high of $46.78. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $3.03 billion. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. As a group, sell-side analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Tuesday, November 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.40 annualized dividend and a yield of 1.0%. Alcoa’s dividend payout ratio (DPR) is 9.24%.

Institutional Investors Weigh In On Alcoa

Several institutional investors have recently added to or reduced their stakes in AA. IFP Advisors Inc raised its position in shares of Alcoa by 1,096.0% in the second 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. Advisory Services Network LLC bought a new position in Alcoa in the 3rd quarter worth approximately $27,000. Root Financial Partners LLC purchased a new position in Alcoa in the 3rd quarter valued at approximately $29,000. Horrell Capital Management Inc. bought a new stake in Alcoa during the 2nd quarter valued at $30,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Alcoa during the third quarter worth $33,000.

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.