Alcoa (NYSE:AA) Given New $48.00 Price Target at Morgan Stanley

Alcoa (NYSE:AA) had its price target cut by Morgan Stanley from $50.00 to $48.00 in a research note released on Monday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other analysts have also issued reports on the company. BMO Capital Markets upped their target price on Alcoa from $35.00 to $37.00 and gave the stock a market perform rating in a report on Thursday, April 18th. B. Riley upped their target price on Alcoa from $39.00 to $43.00 and gave the stock a neutral rating in a report on Thursday, July 18th. UBS Group upped their target price on Alcoa from $27.00 to $32.00 and gave the stock a sell rating in a report on Friday, April 19th. Citigroup boosted their price target on Alcoa from $32.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. Finally, Jefferies Financial Group boosted their price target on Alcoa from $45.00 to $48.00 and gave the stock a buy rating in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $38.80.

Alcoa Stock Performance

Shares of Alcoa stock opened at $32.90 on Monday. Alcoa has a one year low of $23.07 and a one year high of $45.48. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of -8.75 and a beta of 2.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The stock’s 50-day moving average is $39.93 and its 200-day moving average is $34.66.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (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 for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the company posted ($0.35) earnings per share. Alcoa’s revenue was up 8.3% on a year-over-year basis. Equities analysts predict that Alcoa will post 0.53 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were paid a dividend of $0.10 per share. The ex-dividend date was Monday, May 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.22%. Alcoa’s dividend payout ratio (DPR) is currently -10.64%.

Hedge Funds Weigh In On Alcoa

Large investors have recently made changes to their positions in the company. Spire Wealth Management increased its stake in Alcoa by 252.5% during the 1st quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 644 shares during the period. Tennessee Valley Asset Management Partners bought a new position in Alcoa during the 4th quarter worth $31,000. Private Wealth Management Group LLC bought a new position in Alcoa during the 4th quarter worth $33,000. Quent Capital LLC increased its stake in Alcoa by 64.2% during the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 387 shares during the period. Finally, Scarborough Advisors LLC bought a new position in Alcoa during the 4th quarter worth $39,000.

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.