Jefferies Financial Group Cuts Alcoa (NYSE:AA) Price Target to $45.00

Alcoa (NYSE:AA) had its target price cut by Jefferies Financial Group from $50.00 to $45.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the stock. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their price target for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their price target on Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. B. Riley Financial reiterated a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research note on Tuesday, September 17th. BMO Capital Markets increased their price objective on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Finally, Bank of America boosted their target price on Alcoa to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 28th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Alcoa has an average rating of “Moderate Buy” and a consensus target price of $46.45.

Alcoa Price Performance

AA stock opened at $35.89 on Monday. Alcoa has a 1 year low of $24.86 and a 1 year high of $47.77. The firm has a market capitalization of $9.27 billion, a PE ratio of -20.39, a price-to-earnings-growth ratio of 0.79 and a beta of 2.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. The business has a 50 day simple moving average of $41.47 and a 200-day simple moving average of $37.89.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the firm earned ($1.14) earnings per share. Alcoa’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that Alcoa will post 0.9 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is -22.73%.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the transaction, the executive vice president now owns 57,317 shares of the company’s stock, valued at $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.08% of the stock is currently owned by insiders.

Institutional Trading of Alcoa

Several institutional investors and hedge funds have recently bought and sold shares of AA. Nordea Investment Management AB lifted its position in Alcoa by 2.3% during the 4th quarter. Nordea Investment Management AB now owns 253,673 shares of the industrial products company’s stock worth $9,662,000 after acquiring an additional 5,773 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Alcoa during the fourth quarter worth $322,000. GAMMA Investing LLC grew its position in Alcoa by 399.0% in the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after buying an additional 1,157 shares during the last quarter. Confluence Investment Management LLC increased its stake in Alcoa by 7.2% in the 4th quarter. Confluence Investment Management LLC now owns 13,999 shares of the industrial products company’s stock valued at $529,000 after buying an additional 936 shares during the period. Finally, Retirement Systems of Alabama raised its position in Alcoa by 41.6% during the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock worth $12,107,000 after buying an additional 92,201 shares during the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

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.