B. Riley Boosts Alcoa (NYSE:AA) Price Target to $41.00

Alcoa (NYSE:AA) had its target price hoisted by B. Riley from $37.00 to $41.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock. B. Riley also issued estimates for Alcoa’s Q4 2024 earnings at $0.43 EPS, FY2025 earnings at $1.88 EPS and FY2026 earnings at $2.43 EPS.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded Alcoa from a sell rating to a hold rating in a report on Thursday, July 18th. UBS Group raised Alcoa from a sell rating to a buy rating and lifted their target price for the company from $32.00 to $38.00 in a research report on Monday, August 12th. Citigroup upped 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. Wolfe Research upgraded shares of Alcoa from a peer perform rating to an outperform rating and set a $36.00 price objective on the stock in a report on Wednesday, September 4th. Finally, Morgan Stanley cut 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $40.45.

Alcoa Trading Down 3.1 %

NYSE AA opened at $33.83 on Tuesday. Alcoa has a one year low of $23.07 and a one year high of $45.48. 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 firm has a market cap of $6.07 billion, a P/E ratio of -9.00 and a beta of 2.42. The stock’s 50-day moving average is $32.61 and its 200-day moving average is $35.61.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the company posted ($0.35) EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts anticipate that Alcoa will post 0.7 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.18%. Alcoa’s dividend payout ratio is presently -10.64%.

Institutional Trading of Alcoa

Institutional investors and hedge funds have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new position in Alcoa in the 2nd quarter valued at about $27,000. Spire Wealth Management boosted its holdings in shares of Alcoa by 252.5% during the first 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. Scarborough Advisors LLC acquired a new position in shares of Alcoa in the fourth quarter valued at approximately $39,000. Quest Partners LLC bought a new position in shares of Alcoa during the fourth quarter worth approximately $40,000. Finally, Quadrant Capital Group LLC lifted its holdings in Alcoa by 56.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 576 shares during the last quarter. 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.