Alcoa’s (AA) “Overweight” Rating Reiterated at Morgan Stanley
A number of other analysts have also commented on the stock. Zacks Investment Research upgraded shares of Alcoa from a hold rating to a buy rating and set a $11.00 price target for the company in a research note on Tuesday, October 4th. Credit Suisse Group AG reissued a buy rating on shares of Alcoa in a report on Tuesday, July 12th. Berenberg Bank reissued a hold rating and issued a $9.00 price objective on shares of Alcoa in a report on Thursday, June 30th. Bank of America Corp. reissued a buy rating on shares of Alcoa in a report on Friday, June 17th. Finally, Rosenblatt Securities reissued a buy rating and issued a $15.00 price objective on shares of Alcoa in a report on Friday, July 15th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $13.31.
Alcoa (NYSE:AA) opened at 31.51 on Wednesday. The company’s market cap is $13.82 billion. Alcoa has a one year low of $18.42 and a one year high of $34.50. The stock has a 50 day moving average of $29.93 and a 200-day moving average of $29.86.
Alcoa (NYSE:AA) last announced its quarterly earnings results on Monday, July 11th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The firm earned $5.30 billion during the quarter. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The business’s revenue was down 10.2% compared to the same quarter last year. On average, equities analysts predict that Alcoa will post $0.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s dividend payout ratio is presently -42.85%.
In other news, Director Ulrich Schmidt acquired 5,000 shares of the business’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 completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $104,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
A number of hedge funds and other institutional investors have recently bought and sold shares of AA. Cupps Capital Management LLC purchased a new position in Alcoa during the first quarter worth $109,000. Citizens Financial Group Inc RI boosted its position in Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock worth $109,000 after buying an additional 1,401 shares during the period. AXA purchased a new position in Alcoa during the first quarter worth $115,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in Alcoa during the second quarter worth $121,000. Finally, Canandaigua National Bank & Trust Co. purchased a new position in Alcoa during the first quarter worth $122,000.
Alcoa Company Profile
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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