Alcoa (NYSE:AA) Downgraded by StockNews.com to “Sell”

Alcoa (NYSE:AA) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other equities research analysts also recently issued reports on the stock. Bank of America decreased their price target 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. UBS Group increased their price target on shares of Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a research report on Tuesday. Morgan Stanley decreased their price objective on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, B. Riley raised their price objective on Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday. One investment 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. Based on data from MarketBeat.com, Alcoa presently has an average rating of “Hold” and a consensus target price of $40.45.

Alcoa Price Performance

AA traded down $1.09 during trading on Friday, hitting $33.83. 8,969,968 shares of the company traded hands, compared to its average volume of 6,037,970. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $6.07 billion, a PE ratio of -9.00 and a beta of 2.42. The stock’s 50-day simple moving average is $32.61 and its two-hundred day simple moving average is $35.61. Alcoa has a 1 year low of $23.07 and a 1 year high of $45.48.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The firm 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%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) earnings per share. As a group, sell-side analysts anticipate that Alcoa will post 0.7 earnings per share for the current fiscal year.

Institutional Trading of Alcoa

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC purchased a new stake in shares of Alcoa in the fourth quarter valued at approximately $247,000. Janney Montgomery Scott LLC raised its position in Alcoa by 4.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 37,158 shares of the industrial products company’s stock valued at $1,263,000 after purchasing an additional 1,676 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Alcoa by 56.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after buying an additional 576 shares during the period. Norges Bank bought a new position in shares of Alcoa during the 4th quarter worth $45,730,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Alcoa during the fourth quarter valued at $246,000. 82.39% of the stock is currently owned by institutional investors.

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.