Alcoa Inc. (AA) Earns “Buy” Rating from Bank of America Corp.
A number of other research firms have also issued reports on AA. Macquarie reissued a buy rating on shares of Alcoa in a report on Tuesday, July 12th. Credit Suisse Group AG restated a buy rating on shares of Alcoa in a research note on Thursday, June 30th. BMO Capital Markets restated a hold rating and issued a $9.00 price target on shares of Alcoa in a research note on Tuesday, July 12th. Royal Bank Of Canada decreased their price target on Alcoa to $31.00 and set a sector perform rating on the stock in a research note on Wednesday, October 12th. Finally, Rosenblatt Securities restated a buy rating and issued a $15.00 price target on shares of Alcoa in a research note on Friday, July 15th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Alcoa has an average rating of Buy and an average target price of $17.74.
Alcoa (NYSE:AA) opened at 26.44 on Wednesday. The firm’s market capitalization is $11.59 billion. Alcoa has a 1-year low of $18.42 and a 1-year high of $34.50. The company has a 50-day moving average price of $29.51 and a 200 day moving average price of $29.79.
Alcoa (NYSE:AA) last released its earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.21. The business had revenue of $5.21 billion for the quarter. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 EPS. Analysts expect that Alcoa will post $0.44 earnings per share for the current fiscal 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 $0.03 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.12 annualized dividend and a yield of 0.45%. Alcoa’s payout ratio is currently -63.15%.
In other news, Director Ulrich Schmidt purchased 5,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was bought at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $104,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of large investors have recently made changes to their positions in AA. Parametrica Management Ltd purchased a new stake in shares of Alcoa during the third quarter valued at approximately $158,000. MSI Financial Services Inc raised its stake in shares of Alcoa by 44.2% in the third quarter. MSI Financial Services Inc now owns 121,194 shares of the company’s stock valued at $1,229,000 after buying an additional 37,122 shares in the last quarter. Canandaigua National Bank & Trust Co. raised its stake in shares of Alcoa by 0.3% in the third quarter. Canandaigua National Bank & Trust Co. now owns 26,223 shares of the company’s stock valued at $266,000 after buying an additional 79 shares in the last quarter. Patten & Patten Inc. TN raised its stake in shares of Alcoa by 46.1% in the third quarter. Patten & Patten Inc. TN now owns 187,177 shares of the company’s stock valued at $1,898,000 after buying an additional 59,050 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Alcoa by 0.9% in the third quarter. Nisa Investment Advisors LLC now owns 174,582 shares of the company’s stock valued at $1,770,000 after buying an additional 1,618 shares in 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.
Receive News & Ratings for Alcoa Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa Inc. and related companies with MarketBeat.com's FREE daily email newsletter.