Alcoa (NYSE:AA) Price Target Lowered to $55.00 at Argus

Alcoa (NYSE:AA) had its price target reduced by Argus from $73.00 to $55.00 in a research note published on Wednesday, Marketbeat reports. Argus currently has a buy rating on the industrial products company’s stock.

Other analysts also recently issued reports about the stock. Weiss Ratings raised shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. reduced their target price on Alcoa from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. UBS Group lowered their price target on Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Bank of America dropped their price target on Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research note on Thursday, July 9th. Finally, B. Riley Financial cut their price objective on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.09.

Alcoa Trading Up 4.2%

Shares of AA stock opened at $46.22 on Wednesday. The company’s fifty day simple moving average is $60.35 and its two-hundred day simple moving average is $62.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. Alcoa has a 1 year low of $28.11 and a 1 year high of $84.38. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.49 and a beta of 1.63.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period in the previous year, the company posted $0.39 earnings per share. As a group, analysts anticipate that Alcoa will post 6.72 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. Alcoa’s payout ratio is 8.23%.

Institutional Investors Weigh In On Alcoa

A number of large investors have recently modified their holdings of AA. Basepoint Wealth LLC bought a new position in Alcoa in the fourth quarter worth about $25,000. Advisory Services Network LLC bought a new stake in Alcoa during the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. boosted its position in Alcoa by 52,500.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 525 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of Alcoa by 74.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 237 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 581 shares during the period.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.