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

Other research analysts also recently issued research reports about the stock. B. Riley Financial restated a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. B. Riley increased their price target on Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Bank of America cut their price objective on Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, July 18th. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Wednesday, September 4th. Finally, Morgan Stanley cut their price target on Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.64.

Alcoa Stock Down 0.0 %

AA stock opened at $39.17 on Tuesday. The stock has a market capitalization of $7.03 billion, a P/E ratio of -10.42 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. Alcoa has a 1-year low of $23.07 and a 1-year high of $45.48. The business has a fifty day moving average price of $32.82 and a 200-day moving average price of $36.15.

Alcoa (NYSE:AA) last issued its 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 during 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%. Alcoa’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) EPS. Equities analysts forecast that Alcoa will post 0.56 earnings per share for the current fiscal year.

Institutional Trading of Alcoa

A number of hedge funds and other institutional investors have recently modified their holdings of AA. Newbridge Financial Services Group Inc. bought a new stake in Alcoa during the 2nd quarter valued at approximately $27,000. Scarborough Advisors LLC bought a new stake in shares of Alcoa during the fourth quarter valued at approximately $39,000. Toronto Dominion Bank lifted its holdings in shares of Alcoa by 1,501.9% in the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock worth $57,000 after buying an additional 1,592 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 309 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Alcoa during the first quarter valued at $101,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

About Alcoa

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.