Alcoa (NYSE:AA) Shares Gap Up to $38.98

Shares of Alcoa Co. (NYSE:AAGet Free Report) gapped up before the market opened on Friday . The stock had previously closed at $38.98, but opened at $39.96. Alcoa shares last traded at $39.20, with a volume of 579,234 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AA shares. Citigroup boosted their price objective on shares of Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. BMO Capital Markets boosted their price objective on shares of Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Morgan Stanley raised shares of Alcoa from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $36.50 to $50.00 in a research report on Friday. StockNews.com downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Finally, Bank of America lifted their target price on shares of Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, March 18th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.17.

Read Our Latest Stock Analysis on Alcoa

Alcoa Stock Performance

The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. The firm’s 50 day simple moving average is $39.06 and its 200 day simple moving average is $33.20.

Alcoa (NYSE:AAGet Free Report) last posted its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the firm earned ($0.23) earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts expect that Alcoa Co. will post 0.2 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.01%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Institutional Trading of Alcoa

A number of large investors have recently made changes to their positions in the business. Spire Wealth Management grew its holdings in Alcoa by 252.5% during the 1st quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in Alcoa during the 4th quarter valued at about $31,000. Private Wealth Management Group LLC bought a new position in Alcoa during the 4th quarter valued at about $33,000. Quent Capital LLC grew its holdings in Alcoa by 64.2% during the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 387 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new position in Alcoa during the 4th quarter valued at about $39,000.

About Alcoa

(Get Free Report)

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.

Further Reading

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