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

StockNews.com lowered shares of Alcoa (NYSE:AAGet Rating) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

Several other research analysts have also recently issued reports on the company. TheStreet cut Alcoa from a b- rating to a c- rating in a research report on Wednesday, October 19th. Credit Suisse Group dropped their price objective on shares of Alcoa from $50.00 to $45.00 and set a neutral rating on the stock in a report on Thursday, October 20th. BMO Capital Markets reduced their target price on shares of Alcoa from $55.00 to $50.00 and set a market perform rating for the company in a report on Thursday, January 19th. The Goldman Sachs Group dropped their price target on shares of Alcoa from $75.00 to $51.00 and set a buy rating on the stock in a research note on Thursday, October 13th. Finally, Morgan Stanley decreased their target price on Alcoa from $56.00 to $52.00 and set an equal weight rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $68.00.

Alcoa Stock Performance

Shares of AA stock opened at $51.75 on Monday. The firm has a market capitalization of $9.16 billion, a PE ratio of -60.88, a P/E/G ratio of 6.75 and a beta of 2.41. The company has a 50 day moving average price of $47.68 and a 200-day moving average price of $45.79. Alcoa has a 52 week low of $33.55 and a 52 week high of $98.09. The company has a quick ratio of 0.94, a current ratio of 1.75 and a debt-to-equity ratio of 0.27.

Alcoa (NYSE:AAGet Rating) last posted its earnings results on Wednesday, January 18th. The industrial products company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.15. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.70 billion. Alcoa had a negative net margin of 0.82% and a positive return on equity of 13.18%. The firm’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.50 EPS. As a group, equities research analysts expect that Alcoa will post 2.45 earnings per share for the current year.

Institutional Investors Weigh In On Alcoa

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new position in shares of Alcoa in the first quarter valued at about $318,670,000. Assenagon Asset Management S.A. lifted its holdings in Alcoa by 179.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,760,379 shares of the industrial products company’s stock worth $80,238,000 after purchasing an additional 1,130,137 shares in the last quarter. State Street Corp boosted its stake in Alcoa by 16.3% in the 2nd quarter. State Street Corp now owns 7,842,113 shares of the industrial products company’s stock worth $357,444,000 after purchasing an additional 1,101,643 shares during the period. Menora Mivtachim Holdings LTD. grew its holdings in Alcoa by 88.0% during the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 1,558,511 shares of the industrial products company’s stock valued at $71,037,000 after buying an additional 729,299 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Alcoa by 64,013.9% during the 3rd quarter. Pacer Advisors Inc. now owns 680,249 shares of the industrial products company’s stock valued at $22,897,000 after buying an additional 679,188 shares in the last quarter.

About Alcoa

(Get Rating)

Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.

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Analyst Recommendations for Alcoa (NYSE:AA)

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