Alcoa (NYSE:AA) Shares Gap Down After Analyst Downgrade

Shares of Alcoa Co. (NYSE:AA) gapped down prior to trading on Thursday after UBS Group lowered their price target on the stock from $53.00 to $47.00. The stock had previously closed at $33.34, but opened at $32.33. UBS Group currently has a buy rating on the stock. Alcoa shares last traded at $32.57, with a volume of 859,648 shares trading hands.

Other equities research analysts have also issued research reports about the stock. HC Wainwright raised their price target on shares of Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. JPMorgan Chase & Co. increased their price target on Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Morgan Stanley cut their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group reduced their price target on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.92.

Institutional Investors Weigh In On Alcoa

Several large investors have recently modified their holdings of the stock. Ballentine Partners LLC raised its holdings in shares of Alcoa by 3.2% during the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 279 shares during the period. Bessemer Group Inc. raised its stake in Alcoa by 77.1% during the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 296 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Alcoa by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company’s stock worth $1,988,000 after acquiring an additional 300 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in Alcoa by 5.3% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company’s stock worth $246,000 after acquiring an additional 328 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Alcoa by 3.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock valued at $365,000 after purchasing an additional 339 shares during the period. 82.39% of the stock is owned by institutional investors.

Alcoa Stock Down 4.4 %

The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $7.92 billion, a PE ratio of -191.15, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. The business’s 50-day moving average price is $34.75 and its 200-day moving average price is $38.06.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, equities research analysts predict that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.31%. Alcoa’s payout ratio is -250.00%.

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.