Alcoa (NYSE:AA) Stock Rating Lowered by StockNews.com

Alcoa (NYSE:AA) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other equities analysts have also issued reports on AA. B. Riley raised their price target on shares of Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday. Bank of America cut their price objective on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th. B. Riley Financial restated a “neutral” rating and set a $41.00 target price on shares of Alcoa in a research report on Tuesday. Morgan Stanley lowered their price target on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Alcoa currently has a consensus rating of “Hold” and a consensus price target of $40.45.

Alcoa Stock Down 3.1 %

Shares of NYSE AA traded down $1.09 during trading hours on Friday, hitting $33.83. 8,969,968 shares of the stock were exchanged, compared to its average volume of 6,037,970. The company has a market cap of $6.07 billion, a PE ratio of -9.00 and a beta of 2.42. Alcoa has a 12 month low of $23.07 and a 12 month high of $45.48. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $32.61 and a 200-day moving average price of $35.61.

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

Institutional Trading of Alcoa

Several large investors have recently bought and sold shares of AA. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Alcoa in the 2nd quarter worth $93,061,000. L1 Capital Pty Ltd acquired a new stake in Alcoa during the first quarter worth about $72,658,000. Norges Bank acquired a new stake in Alcoa during the fourth quarter worth about $45,730,000. Marshall Wace LLP raised its stake in Alcoa by 770.9% during the second quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock worth $56,599,000 after purchasing an additional 1,259,430 shares during the period. Finally, ARGA Investment Management LP boosted its holdings in Alcoa by 202.2% in the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock valued at $50,399,000 after purchasing an additional 997,912 shares during the last quarter. Hedge funds and other 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.