Alcoa Inc. (AA) Stock Rating Reaffirmed by RBC Capital Markets
Alcoa Inc. (NYSE:AA)‘s stock had its “sector perform” rating reissued by RBC Capital Markets in a note issued to investors on Wednesday. They currently have a $31.00 price objective on the stock, down from their previous price objective of $33.00. RBC Capital Markets’ price objective would indicate a potential upside of 14.35% from the stock’s current price.
A number of other equities research analysts also recently commented on AA. Berenberg Bank restated a “hold” rating and issued a $9.00 price objective on shares of Alcoa in a research report on Tuesday, June 14th. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price objective on shares of Alcoa in a research report on Wednesday, June 15th. Bank of America Corp. restated a “buy” rating on shares of Alcoa in a research report on Friday, June 17th. Morgan Stanley restated an “overweight” rating and issued a $12.00 price objective (up previously from $11.00) on shares of Alcoa in a research report on Thursday, June 30th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Alcoa in a research report on Thursday, June 30th. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Alcoa currently has a consensus rating of “Buy” and an average target price of $16.83.
Shares of Alcoa (NYSE:AA) traded down 2.87% during trading on Wednesday, hitting $27.11. The stock had a trading volume of 19,127,840 shares. The stock’s market cap is $11.89 billion. The stock’s 50-day moving average is $29.84 and its 200-day moving average is $29.85. Alcoa has a 12-month low of $18.42 and a 12-month high of $34.50.
Alcoa (NYSE:AA) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.21. Alcoa had a positive return on equity of 3.44% and a negative net margin of 1.45%. The firm had revenue of $5.21 billion for the quarter. During the same period in the prior year, the business earned $0.07 EPS. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts expect that Alcoa will post $0.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders 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 dividend yield of 0.44%. Alcoa’s dividend payout ratio is presently -42.85%.
In related news, Director Ulrich Schmidt acquired 5,000 shares of the stock in a transaction dated Wednesday, July 20th. The stock was bought at an average cost of $10.40 per share, with a total value of $52,000.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $104,000. The transaction was disclosed in a filing with the SEC, which is available through this link.
Several hedge funds have recently made changes to their positions in AA. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. First Pacific Advisors LLC raised its position 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 acquired a new position in Alcoa during the first quarter valued at $374,584,000. BlackRock Institutional Trust Company N.A. raised its position 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, Geode Capital Management LLC raised its position in Alcoa by 2.3% in the first quarter. Geode Capital Management LLC now owns 10,720,212 shares of the company’s stock valued at $102,493,000 after buying an additional 240,383 shares during the last quarter.
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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