Alcoa (AA) – Investment Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Alcoa (NYSE: AA) recently:

• 4/22/2024 – Alcoa was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating. They now have a $36.50 price target on the stock, up previously from $28.50.
• 4/19/2024 – Alcoa was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 4/19/2024 – Alcoa had its price target raised by analysts at UBS Group AG from $27.00 to $32.00. They now have a “sell” rating on the stock.
• 4/18/2024 – Alcoa had its price target raised by analysts at B. Riley from $25.00 to $31.00. They now have a “neutral” rating on the stock.
• 4/18/2024 – Alcoa had its price target raised by analysts at BMO Capital Markets from $35.00 to $37.00. They now have a “market perform” rating on the stock.
• 4/18/2024 – Alcoa had its price target raised by analysts at Jefferies Financial Group Inc. from $45.00 to $48.00. They now have a “buy” rating on the stock.
• 4/9/2024 – Alcoa was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/18/2024 – Alcoa had its price target raised by analysts at Bank of America Co. from $31.00 to $32.00. They now have a “neutral” rating on the stock.
• 3/14/2024 – Alcoa was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/1/2024 – Alcoa was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

Alcoa Stock Down 1.8 %

Shares of NYSE AA opened at $35.71 on Tuesday. The stock has a market capitalization of $6.41 billion, a PE ratio of -9.50, a price-to-earnings-growth ratio of 4.28 and a beta of 2.47. The stock’s fifty day simple moving average is $31.31 and its two-hundred day simple moving average is $29.16. Alcoa Co. has a 12-month low of $23.07 and a 12-month high of $38.54. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) EPS. As a group, analysts expect that Alcoa Co. will post 0.17 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.12%. Alcoa’s dividend payout ratio is currently -10.64%.

Insiders Place Their Bets

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the company’s stock in a transaction on 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 directly owns 41,166 shares in the company, valued at $1,267,089.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Investors Weigh In On Alcoa

Hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its stake in shares of Alcoa by 183.8% during the third quarter. National Bank of Canada FI now owns 92,009 shares of the industrial products company’s stock worth $2,650,000 after buying an additional 59,593 shares during the period. SG Americas Securities LLC bought a new stake in Alcoa during the 3rd quarter worth about $1,408,000. Counterpoint Mutual Funds LLC boosted its stake in Alcoa by 47.3% in the third quarter. Counterpoint Mutual Funds LLC now owns 4,977 shares of the industrial products company’s stock valued at $145,000 after buying an additional 1,598 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Alcoa by 92.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 166,121 shares of the industrial products company’s stock valued at $4,827,000 after purchasing an additional 79,802 shares during the period. Finally, Raymond James & Associates grew its position in shares of Alcoa by 2.5% in the 3rd quarter. Raymond James & Associates now owns 20,874 shares of the industrial products company’s stock worth $607,000 after buying an additional 501 shares during the last quarter.

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.