Alcoa (NYSE:AA) Rating Lowered to Sell at StockNews.com

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

AA has been the subject of a number of other research reports. Morgan Stanley decreased their target price on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. UBS Group increased their target price on shares of Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America decreased their target price on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. B. Riley increased their target price on shares of Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alcoa presently has a consensus rating of “Hold” and an average target price of $40.45.

Alcoa Stock Down 3.1 %

AA stock opened at $33.83 on Friday. The stock has a market capitalization of $6.07 billion, a P/E ratio of -9.00 and a beta of 2.42. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Alcoa has a 12 month low of $23.07 and a 12 month high of $45.48. The firm has a 50-day moving average price of $32.51 and a 200-day moving average price of $35.71.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Douglas Lane & Associates LLC lifted its position in Alcoa by 12.9% in the first quarter. Douglas Lane & Associates LLC now owns 1,351,720 shares of the industrial products company’s stock valued at $45,675,000 after purchasing an additional 154,403 shares during the last quarter. ARGA Investment Management LP lifted its position in Alcoa by 202.2% in the first 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. Quadrature Capital Ltd bought a new stake in Alcoa in the first quarter valued at approximately $593,000. Cloverfields Capital Group LP bought a new stake in Alcoa in the fourth quarter valued at approximately $865,000. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in Alcoa in the second quarter valued at approximately $706,000. 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.