B. Riley Increases Alcoa (NYSE:AA) Price Target to $31.00

Alcoa (NYSE:AA) had its price objective raised by B. Riley from $25.00 to $31.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

A number of other analysts have also recently issued reports on the stock. UBS Group assumed coverage on shares of Alcoa in a research note on Tuesday, January 16th. They issued a sell rating and a $29.00 price objective for the company. 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. 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 upgraded shares of Alcoa from a sell rating to a hold rating in a research report on Tuesday, April 9th. Finally, Jefferies Financial Group increased their price objective on shares of Alcoa from $45.00 to $48.00 and gave the company a buy rating in a research report on Thursday. Three investment 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 data from MarketBeat.com, Alcoa currently has an average rating of Hold and a consensus target price of $32.71.

Alcoa Stock Down 0.2 %

Shares of AA stock opened at $35.48 on Thursday. Alcoa has a 12 month low of $23.07 and a 12 month high of $42.23. The stock has a market cap of $6.37 billion, a P/E ratio of -9.72, a P/E/G ratio of 2.32 and a beta of 2.47. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30. The company has a 50 day simple moving average of $30.97 and a two-hundred day simple moving average of $29.02.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.23) earnings per share. On average, research analysts expect that Alcoa will post 0.33 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were issued a $0.10 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. Alcoa’s dividend payout ratio (DPR) is presently -10.96%.

Insider Buying and Selling

In related news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the transaction, the executive vice president now owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Fairfield Bush & CO. purchased a new position in Alcoa during the 1st quarter valued at about $29,000. Neo Ivy Capital Management purchased a new position in Alcoa during the 2nd quarter valued at about $27,000. Resurgent Financial Advisors LLC purchased a new position in Alcoa during the 4th quarter valued at about $32,000. ICA Group Wealth Management LLC purchased a new position in Alcoa during the 4th quarter valued at about $36,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in Alcoa during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

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.