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

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

Several other brokerages have also commented on AA. UBS Group increased their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a research note on Tuesday, September 17th. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research note on Wednesday, September 4th. Morgan Stanley lowered their target price on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Bank of America lowered their target price 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.45.

Alcoa Stock Down 3.1 %

Shares of NYSE:AA opened at $33.83 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. 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 52 week low of $23.07 and a 52 week high of $45.48. The firm has a 50 day simple moving average of $32.51 and a 200 day simple moving average of $35.71.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the firm earned ($0.35) EPS. The company’s revenue was up 8.3% compared to the same quarter last year. As a group, research analysts expect that Alcoa will post 0.7 earnings per share for the current year.

Hedge Funds Weigh In On Alcoa

Several institutional investors and hedge funds have recently modified their holdings of AA. Newbridge Financial Services Group Inc. acquired a new position in shares of Alcoa in the second quarter valued at about $27,000. Scarborough Advisors LLC acquired a new position in shares of Alcoa in the fourth quarter valued at about $39,000. Quest Partners LLC acquired a new position in shares of Alcoa in the fourth quarter valued at about $40,000. Quadrant Capital Group LLC lifted its position in Alcoa by 56.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 576 shares during the period. Finally, Toronto Dominion Bank lifted its position in Alcoa by 1,501.9% during the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 1,592 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

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.