Alcoa (NYSE:AA) Sets New 12-Month Low Following Analyst Downgrade

Alcoa Co. (NYSE:AAGet Rating)’s share price hit a new 52-week low during trading on Thursday after Wolfe Research downgraded the stock from an outperform rating to a market perform rating. The company traded as low as $37.83 and last traded at $37.94, with a volume of 94540 shares traded. The stock had previously closed at $39.41.

A number of other equities analysts also recently commented on AA. BMO Capital Markets cut their price objective on shares of Alcoa from $57.00 to $55.00 in a research report on Thursday, July 21st. The Goldman Sachs Group cut their price target on shares of Alcoa from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, July 22nd. Morgan Stanley upgraded shares of Alcoa from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $51.00 to $66.00 in a report on Friday, September 16th. B. Riley cut their price target on shares of Alcoa from $84.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday, June 28th. Finally, Credit Suisse Group cut their price target on shares of Alcoa from $63.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alcoa has an average rating of “Hold” and a consensus price target of $78.82.

Institutional Investors Weigh In On Alcoa

A number of large investors have recently added to or reduced their stakes in AA. Hanseatic Management Services Inc. acquired a new stake in Alcoa in the 1st quarter valued at about $25,000. Neo Ivy Capital Management acquired a new stake in shares of Alcoa during the 2nd quarter worth about $27,000. Emerson Wealth LLC acquired a new stake in shares of Alcoa during the 2nd quarter worth about $29,000. Fairfield Bush & CO. acquired a new stake in shares of Alcoa during the 1st quarter worth about $29,000. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new stake in shares of Alcoa during the 2nd quarter worth about $33,000.

Alcoa Price Performance

The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 7.37, a PEG ratio of 0.62 and a beta of 2.31. The company’s 50 day simple moving average is $48.78 and its 200-day simple moving average is $60.69. The company has a current ratio of 1.81, a quick ratio of 1.02 and a debt-to-equity ratio of 0.24.

Alcoa (NYSE:AAGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.71 by ($1.04). Alcoa had a return on equity of 30.66% and a net margin of 7.19%. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period in the prior year, the business earned $1.49 earnings per share. Alcoa’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, equities research analysts predict that Alcoa Co. will post 7.16 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Tuesday, August 9th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.40 annualized dividend and a dividend yield of 1.07%. Alcoa’s dividend payout ratio is presently 7.86%.

Alcoa Company Profile

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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.

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