Brokerages Set Alcoa (NYSE:AA) PT at $50.45

Shares of Alcoa (NYSE:AA) have earned a consensus rating of “Hold” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $55.5455.

A number of brokerages have weighed in on AA. B. Riley Financial lifted their price target on shares of Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday. Citigroup lifted their price target on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. UBS Group lifted their price target on shares of Alcoa from $48.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Finally, Wells Fargo & Company set a $68.00 price target on shares of Alcoa in a research report on Thursday, March 12th.

Alcoa Trading Down 1.6%

Shares of AA stock opened at $71.81 on Friday. Alcoa has a 1-year low of $21.53 and a 1-year high of $73.38. The firm has a market cap of $18.95 billion, a PE ratio of 16.25 and a beta of 1.70. The company has a 50-day moving average of $62.27 and a two-hundred day moving average of $50.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 0.87.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the business earned $1.04 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts predict that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is currently 9.05%.

Institutional Trading of Alcoa

Several hedge funds have recently made changes to their positions in AA. Basepoint Wealth LLC acquired a new stake in shares of Alcoa during the fourth quarter worth about $25,000. Advisory Services Network LLC acquired a new stake in shares of Alcoa during the third quarter worth about $27,000. Raleigh Capital Management Inc. lifted its position in shares of Alcoa by 52,500.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 525 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Alcoa during the third quarter worth about $29,000. Finally, CoreCap Advisors LLC lifted its position in shares of Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter.

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.