Alcoa (NYSE:AA) Price Target Raised to $31.00

Alcoa (NYSE:AA) had its target price hoisted by Barclays to $31.00 in a research report sent to investors on Friday morning,Stock Target Advisor reports. They currently have a hold rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the stock. B. Riley reduced their price objective on shares of Alcoa from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Bank of America reiterated an “underperform” rating and set a $26.00 target price (down previously from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. Morgan Stanley dropped their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. StockNews.com upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Friday, April 18th. Finally, UBS Group reiterated a “neutral” rating and set a $31.00 target price on shares of Alcoa in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.08.

Alcoa Trading Up 2.9%

NYSE:AA opened at $29.51 on Friday. The firm’s fifty day moving average is $27.80 and its 200-day moving average is $34.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. Alcoa has a 52 week low of $21.53 and a 52 week high of $47.77. The firm has a market cap of $7.64 billion, a P/E ratio of -184.42, a P/E/G ratio of 0.19 and a beta of 2.29.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.42. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.58 billion. Equities analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.36%. Alcoa’s payout ratio is presently 12.05%.

Hedge Funds Weigh In On Alcoa

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ballentine Partners LLC boosted its stake in shares of Alcoa by 3.2% in the 4th quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock worth $339,000 after buying an additional 279 shares during the last quarter. Bessemer Group Inc. increased its holdings in Alcoa by 77.1% during the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock worth $26,000 after buying an additional 296 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Alcoa by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company’s stock worth $1,988,000 after buying an additional 300 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Alcoa by 5.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company’s stock worth $246,000 after buying an additional 328 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Alcoa by 3.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock worth $365,000 after buying an additional 339 shares during the last quarter. 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.