Alcoa (NYSE:AA) Given New $37.00 Price Target at BMO Capital Markets

Alcoa (NYSE:AA) had its target price lifted by BMO Capital Markets from $35.00 to $37.00 in a research report sent to investors on Thursday, Marketbeat Ratings reports. BMO Capital Markets currently has a market perform rating on the industrial products company’s stock.

A number of other brokerages also recently commented on AA. Bank of America raised their target price on shares of Alcoa from $31.00 to $32.00 and gave the company a neutral rating in a research note on Monday, March 18th. StockNews.com raised shares of Alcoa from a sell rating to a hold rating in a research note on Tuesday, April 9th. UBS Group started coverage on shares of Alcoa in a research note on Tuesday, January 16th. They issued a sell rating and a $29.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Alcoa from $30.00 to $32.00 and gave the company a neutral rating in a research note on Thursday, January 18th. Finally, Morgan Stanley raised their target price on shares of Alcoa from $27.00 to $29.50 and gave the company an underweight rating in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $32.71.

Alcoa Stock Down 0.2 %

Shares of NYSE AA opened at $35.48 on Thursday. Alcoa has a 1 year low of $23.07 and a 1 year high of $42.23. The firm’s 50 day moving average price is $30.97 and its 200 day moving average price is $29.02. The firm has a market cap of $6.37 billion, a P/E ratio of -9.72, a price-to-earnings-growth ratio of 2.32 and a beta of 2.47. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.74 and a current ratio of 1.45.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 6.56% and a negative net margin of 6.17%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the business posted ($0.23) EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alcoa 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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.13%. The ex-dividend date was Monday, March 4th. Alcoa’s dividend payout ratio is currently -10.96%.

Insiders Place Their Bets

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the transaction, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Neo Ivy Capital Management acquired a new position in shares of Alcoa in the 2nd quarter valued at about $27,000. Fairfield Bush & CO. bought a new stake in shares of Alcoa during the 1st quarter worth about $29,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Alcoa during the 4th quarter worth about $31,000. Resurgent Financial Advisors LLC bought a new stake in shares of Alcoa during the 4th quarter worth about $32,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of Alcoa during the 4th quarter worth about $33,000. 82.39% of the stock is owned by institutional investors and hedge funds.

About Alcoa

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.