Alcoa Inc. (NYSE:AA) Given Consensus Recommendation of “Buy” by Analysts
Alcoa Inc. (NYSE:AA) has earned a consensus recommendation of “Buy” from the twenty-one ratings firms that are presently covering the firm. Nine equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $11.27.
Several analysts recently issued reports on AA shares. Zacks Investment Research upgraded Alcoa from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Tuesday. Morgan Stanley restated a “buy” rating and set a $12.00 price target on shares of Alcoa in a report on Tuesday, August 16th. Seaport Global Securities initiated coverage on Alcoa in a report on Friday, September 9th. They issued a “neutral” rating and a $11.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price target on shares of Alcoa in a research note on Friday, July 15th. Finally, Bank of America Corp. reissued a “buy” rating on shares of Alcoa in a research note on Friday, June 17th.
Shares of Alcoa (NYSE:AA) traded up 1.76% during trading on Wednesday, hitting $10.38. The company had a trading volume of 17,171,745 shares. The company’s market capitalization is $13.65 billion. Alcoa has a 52 week low of $6.14 and a 52 week high of $11.50. The stock’s 50-day moving average price is $9.96 and its 200 day moving average price is $9.93.
Alcoa (NYSE:AA) last released its earnings results on Monday, July 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.06. Alcoa had a positive return on equity of 3.44% and a negative net margin of 1.45%. The firm earned $5.30 billion during the quarter. During the same quarter in the prior year, the business posted $0.19 EPS. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Alcoa will post $0.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $0.12 annualized dividend and a yield of 1.18%. Alcoa’s dividend payout ratio (DPR) is -42.86%.
In other news, Director Ulrich Schmidt purchased 5,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were acquired at an average price of $10.40 per share, for a total transaction of $52,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $104,000. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Alcoa by 2.9% in the second quarter. Vanguard Group Inc. now owns 118,489,630 shares of the company’s stock valued at $1,098,398,000 after buying an additional 3,387,829 shares during the last quarter. First Pacific Advisors LLC increased its stake in Alcoa by 13.5% in the second quarter. First Pacific Advisors LLC now owns 64,456,242 shares of the company’s stock valued at $597,509,000 after buying an additional 7,650,380 shares during the last quarter. Orbis Allan Gray Ltd purchased a new stake in Alcoa during the first quarter valued at $374,584,000. BlackRock Institutional Trust Company N.A. increased its stake in Alcoa by 3.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 34,741,129 shares of the company’s stock valued at $322,050,000 after buying an additional 1,074,056 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in Alcoa by 0.4% in the first quarter. BlackRock Group LTD now owns 13,821,640 shares of the company’s stock valued at $132,411,000 after buying an additional 55,116 shares during the last quarter.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
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