Brokerages Set Alcoa (NYSE:AA) Target Price at $47.15

Alcoa (NYSE:AA) has been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $47.1538.

Several brokerages recently weighed in on AA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 22nd. Argus set a $45.00 price objective on Alcoa in a report on Thursday, October 30th. B. Riley lifted their price objective on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. BMO Capital Markets increased their target price on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alcoa from $35.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, December 5th.

Institutional Investors Weigh In On Alcoa

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mirabella Financial Services LLP grew its stake in shares of Alcoa by 12,233.1% in the third quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company’s stock valued at $1,318,312,000 after buying an additional 39,757,462 shares in the last quarter. State Street Corp grew its position in Alcoa by 6.7% in the third quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock valued at $376,871,000 after acquiring an additional 721,063 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Alcoa by 13.5% during the third quarter. Dimensional Fund Advisors LP now owns 11,118,560 shares of the industrial products company’s stock valued at $365,710,000 after purchasing an additional 1,322,540 shares during the period. L1 Capital Pty Ltd lifted its position in shares of Alcoa by 22.3% during the third quarter. L1 Capital Pty Ltd now owns 5,887,699 shares of the industrial products company’s stock worth $193,646,000 after purchasing an additional 1,073,357 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Alcoa by 4.8% in the second quarter. Geode Capital Management LLC now owns 4,637,897 shares of the industrial products company’s stock valued at $136,898,000 after purchasing an additional 211,141 shares during the period.

Alcoa Trading Up 1.1%

Alcoa stock opened at $54.24 on Thursday. The stock has a 50-day moving average price of $41.79 and a 200 day moving average price of $35.02. Alcoa has a 52 week low of $21.53 and a 52 week high of $54.43. The stock has a market cap of $14.05 billion, a PE ratio of 12.53, a P/E/G ratio of 0.27 and a beta of 1.99. 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 issued its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.13. The company 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%.Alcoa’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 EPS. Equities research analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Tuesday, November 4th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, November 4th. Alcoa’s dividend payout ratio is currently 9.24%.

Alcoa Company Profile

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.