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Alcoa Co. (NYSE:AA - Get Rating) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 7,560,000 shares, a decline of 19.1% from the July 15th total of 9,340,000 shares. Based on an average trading volume of 6,550,000 shares, the days-to-cover ratio is currently 1.2 days. Currently, 4.2% of the shares of the stock are short sold. Analysts Set New Price Targets
A number of analysts recently issued reports on AA shares. Credit Suisse Group reduced their price objective on Alcoa from $82.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, July 19th. BMO Capital Markets lowered their price target on Alcoa from $57.00 to $55.00 in a research note on Thursday, July 21st. The Goldman Sachs Group lowered their price target on Alcoa from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, July 22nd. Morgan Stanley lowered their price objective on Alcoa from $55.00 to $51.00 and set an "equal weight" rating on the stock in a research note on Monday, July 25th. Finally, Citigroup downgraded Alcoa from a "buy" rating to a "neutral" rating and set a $84.00 target price on the stock. in a report on Thursday, April 21st. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $78.64.Alcoa Trading Down 1.0 %
Shares of AA stock opened at $52.76 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.81 and a debt-to-equity ratio of 0.24. Alcoa has a 12-month low of $36.61 and a 12-month high of $98.09. The firm has a 50 day moving average price of $48.57 and a two-hundred day moving average price of $65.06. The company has a market capitalization of $9.49 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 0.84 and a beta of 2.33.
Alcoa (NYSE:AA - Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.71 by ($1.04). The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.48 billion. Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The business's revenue was up 28.6% compared to the same quarter last year. During the same period last year, the business earned $1.49 earnings per share. As a group, analysts predict that Alcoa will post 6.53 earnings per share for the current year. Alcoa Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Tuesday, August 9th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, August 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.76%. Alcoa's payout ratio is presently 7.86%. Hedge Funds Weigh In On Alcoa
A number of hedge funds have recently modified their holdings of the business. Moors & Cabot Inc. lifted its holdings in Alcoa by 2.2% in the first quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company's stock valued at $788,000 after buying an additional 185 shares during the period. Shell Asset Management Co. increased its position in shares of Alcoa by 0.5% during the fourth quarter. Shell Asset Management Co. now owns 42,756 shares of the industrial products company's stock worth $2,547,000 after acquiring an additional 199 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Alcoa by 19.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,232 shares of the industrial products company's stock worth $56,000 after acquiring an additional 200 shares in the last quarter. Retirement Group LLC increased its position in shares of Alcoa by 100.0% during the fourth quarter. Retirement Group LLC now owns 500 shares of the industrial products company's stock worth $30,000 after acquiring an additional 250 shares in the last quarter. Finally, Hanseatic Management Services Inc. bought a new stake in Alcoa in the 1st quarter worth about $25,000. About Alcoa (Get Rating)
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 three segments: Bauxite, 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.Featured ArticlesGet a free copy of the StockNews.com research report on Alcoa (AA)MarketBeat: Week in Review 8/8 - 8/122 Important Retail Stock Battles to WatchWhat Is WallStreetBets and What Stocks Are They Targeting?Institutions And Analysts Propel Jack In The Box Higher Can You Guess Which EV Stock Is Beating Tesla ?
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