Alcoa (NYSE:AA) Upgraded by B. Riley to Buy

B. Riley upgraded shares of Alcoa (NYSE:AA) from a neutral rating to a buy rating in a report released on Thursday morning, Marketbeat Ratings reports. B. Riley currently has $50.00 target price on the industrial products company’s stock, up from their prior target price of $41.00.

AA has been the topic of several other research reports. Morgan Stanley reduced their price objective on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. started coverage on shares of Alcoa in a research note on Wednesday, September 25th. They issued a “neutral” rating and a $36.00 price target on the stock. UBS Group increased their price objective on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday. B. Riley Financial reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a report on Tuesday, September 17th. Finally, StockNews.com lowered Alcoa from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.36.

Alcoa Trading Down 4.1 %

Shares of AA stock opened at $40.33 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The stock has a fifty day simple moving average of $34.74 and a two-hundred day simple moving average of $36.74. The firm has a market capitalization of $7.24 billion, a PE ratio of -10.73 and a beta of 2.42. Alcoa has a 52-week low of $23.07 and a 52-week high of $45.48.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.34. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter last year, the business posted ($1.14) earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, analysts predict that Alcoa will post 0.29 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 29th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. Alcoa’s dividend payout ratio is presently -10.64%.

Institutional Investors Weigh In On Alcoa

Institutional investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in Alcoa in the 2nd quarter worth about $27,000. UMB Bank n.a. lifted its stake in shares of Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 631 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 1,592 shares during the period. Fifth Third Bancorp grew its position in Alcoa by 15.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 309 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Alcoa in the first quarter worth $101,000. 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.