Analysts Set Alcoa (NYSE:AA) Target Price at $68.60

Shares of Alcoa (NYSE:AA) have received a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $68.60.

Several research analysts recently issued reports on AA shares. BMO Capital Markets increased their price target on shares of Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Morgan Stanley upgraded shares of Alcoa from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $64.00 to $80.00 in a research note on Thursday, April 9th. Zacks Research lowered shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. increased their price target on shares of Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Finally, Argus set a $73.00 price target on shares of Alcoa in a research note on Monday, April 27th.

Institutional Trading of Alcoa

Several institutional investors have recently bought and sold shares of the company. Cozad Asset Management Inc. grew its position in Alcoa by 3.8% during the 1st quarter. Cozad Asset Management Inc. now owns 136,075 shares of the industrial products company’s stock valued at $9,026,000 after purchasing an additional 4,925 shares during the last quarter. Essential Partners LLC grew its position in Alcoa by 0.9% during the 1st quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company’s stock valued at $1,361,000 after purchasing an additional 193 shares during the last quarter. Western Wealth Management LLC purchased a new stake in Alcoa during the 1st quarter valued at about $35,000. Janus Henderson Group PLC grew its position in Alcoa by 35.9% during the 1st quarter. Janus Henderson Group PLC now owns 155,393 shares of the industrial products company’s stock valued at $10,303,000 after purchasing an additional 41,086 shares during the last quarter. Finally, Bull Harbor Capital LLC purchased a new stake in Alcoa during the 1st quarter valued at about $921,000.

Alcoa Stock Up 2.7%

Shares of Alcoa stock opened at $77.59 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $66.66 and its two-hundred day simple moving average is $58.75. The company has a market cap of $20.48 billion, a P/E ratio of 19.64 and a beta of 1.51. Alcoa has a 12-month low of $25.83 and a 12-month high of $77.72.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.20). The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.15 earnings per share. Research analysts anticipate that Alcoa will post 7.95 EPS for the current year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Tuesday, May 19th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, May 19th. Alcoa’s dividend payout ratio is 10.13%.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.