Alcoa (NYSE:AA) Price Target Raised to $31.00

Alcoa (NYSE:AA) had its price target upped by B. Riley from $25.00 to $31.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock. B. Riley also issued estimates for Alcoa’s FY2025 earnings at $1.64 EPS.

AA has been the subject of several other reports. Bank of America lifted their price target on Alcoa from $31.00 to $32.00 and gave the company a neutral rating in a report on Monday, March 18th. StockNews.com upgraded Alcoa from a sell rating to a hold rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price target on Alcoa from $30.00 to $32.00 and gave the company a neutral rating in a report on Thursday, January 18th. Jefferies Financial Group boosted their target price on Alcoa from $45.00 to $48.00 and gave the stock a buy rating in a report on Thursday. Finally, Morgan Stanley boosted their target price on Alcoa from $27.00 to $29.50 and gave the stock an underweight rating in a report on Thursday, January 18th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $32.96.

Alcoa Trading Up 0.2 %

NYSE:AA opened at $35.53 on Thursday. The stock has a market cap of $6.38 billion, a PE ratio of -9.45, a price-to-earnings-growth ratio of 2.41 and a beta of 2.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.74. Alcoa has a fifty-two week low of $23.07 and a fifty-two week high of $42.23. The stock’s 50-day moving average is $31.14 and its two-hundred day moving average is $29.09.

Alcoa (NYSE:AA) last announced its quarterly earnings results 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 firm had revenue of $2.60 billion for 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 firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. As a group, equities research analysts forecast that Alcoa will post 0.17 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, March 4th. 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 Alcoa stock in a transaction that occurred on Wednesday, March 13th. The stock was 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 of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Trading of Alcoa

A number of institutional investors and hedge funds have recently modified their holdings of AA. Neo Ivy Capital Management bought a new stake in shares of Alcoa during the second quarter valued at approximately $27,000. Fairfield Bush & CO. bought a new stake in shares of Alcoa during the first quarter valued at approximately $29,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Alcoa during the fourth quarter valued at approximately $31,000. Resurgent Financial Advisors LLC bought a new stake in shares of Alcoa during the fourth quarter valued at approximately $32,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of Alcoa during the fourth quarter valued at approximately $33,000.

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.