Alcoa (NYSE:AA) Receives “Neutral” Rating from B. Riley Financial

B. Riley Financial reissued their neutral rating on shares of Alcoa (NYSE:AA) in a research note released on Tuesday morning, Stock Target Advisor reports. The firm currently has a $41.00 target price on the industrial products company’s stock.

Several other research analysts have also issued reports on AA. B. Riley upped their target price on shares of Alcoa from $37.00 to $41.00 and gave the stock a neutral rating in a research report on Tuesday. StockNews.com raised Alcoa from a sell rating to a hold rating in a report on Thursday, July 18th. UBS Group upgraded Alcoa from a sell rating to a buy rating and boosted their target price for the stock from $32.00 to $38.00 in a research report on Monday, August 12th. Citigroup increased their price target on shares of Alcoa from $32.00 to $50.00 and gave the company a buy rating in a research report on Tuesday, May 21st. Finally, Morgan Stanley lowered their price objective on shares of Alcoa from $50.00 to $48.00 and set an overweight rating for the company in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Alcoa presently has a consensus rating of Hold and a consensus price target of $40.45.

Alcoa Stock Performance

NYSE AA opened at $33.83 on Tuesday. The company’s 50 day simple moving average is $32.61 and its two-hundred day simple moving average is $35.61. The stock has a market capitalization of $6.07 billion, a PE ratio of -9.00 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. Alcoa has a 1 year low of $23.07 and a 1 year high of $45.48.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the business earned ($0.35) earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. Analysts predict that Alcoa will post 0.7 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.18%. Alcoa’s dividend payout ratio is -10.64%.

Institutional Trading of Alcoa

Large investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Alcoa during the 2nd quarter valued at $27,000. Spire Wealth Management lifted its position in Alcoa by 252.5% during the 1st quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 644 shares during the period. Scarborough Advisors LLC bought a new stake in Alcoa during the fourth quarter worth about $39,000. Quest Partners LLC purchased a new stake in Alcoa in the fourth quarter worth about $40,000. Finally, Quadrant Capital Group LLC grew its holdings in Alcoa by 56.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 576 shares during the period. 82.39% of the stock is owned by institutional investors.

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.