Alcoa (NYSE:AA) Shares Gap Down to $36.57

Alcoa Co. (NYSE:AA) gapped down before the market opened on Tuesday . The stock had previously closed at $36.57, but opened at $35.15. Alcoa shares last traded at $35.40, with a volume of 936,220 shares changing hands.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Alcoa from $27.00 to $29.50 and gave the stock an “underweight” rating in a research report on Thursday, January 18th. BMO Capital Markets dropped their target price on Alcoa from $30.00 to $29.00 and set a “market perform” rating on the stock in a research report on Thursday, January 18th. Bank of America raised their price target on shares of Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.88.

Alcoa Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.45 and a quick ratio of 0.74. The stock has a 50-day moving average price of $30.81 and a 200-day moving average price of $28.97. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of -9.75, a PEG ratio of 2.35 and a beta of 2.47.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.58). The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.55 billion. Alcoa had a negative return on equity of 6.56% and a negative net margin of 6.17%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.23) earnings per share. As a group, analysts forecast that Alcoa Co. will post 0.33 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were given a dividend of $0.10 per share. The ex-dividend date was Monday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.12%. Alcoa’s dividend payout ratio (DPR) is presently -10.96%.

Insider Transactions at Alcoa

In related news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the sale, the executive vice president now directly owns 41,166 shares in the company, valued at approximately $1,267,089.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Neo Ivy Capital Management bought a new stake in shares of Alcoa in the second quarter valued at approximately $27,000. Fairfield Bush & CO. acquired a new position in Alcoa in the 1st quarter valued at $29,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Alcoa during the 4th quarter valued at $31,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Alcoa during the 4th quarter worth $32,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Alcoa in the fourth quarter worth $33,000.

Alcoa Company Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.