Zacks Investment Research lowered shares of Alcoa (NYSE:AA) from a strong-buy rating to a hold rating in a research note published on Monday morning.
According to Zacks, “Alcoa is a global industry leader in bauxite, alumina and aluminum products. “
Several other analysts also recently commented on the stock. B. Riley assumed coverage on shares of Alcoa in a report on Thursday, June 21st. They issued a neutral rating and a $47.00 price objective on the stock. ValuEngine downgraded shares of Alcoa from a buy rating to a hold rating in a report on Saturday, June 16th. Deutsche Bank set a $70.00 price objective on shares of Alcoa and gave the company a buy rating in a report on Wednesday, May 30th. Jefferies Financial Group started coverage on shares of Alcoa in a report on Wednesday, May 2nd. They issued a buy rating and a $65.00 price objective on the stock. Finally, Morgan Stanley increased their price target on shares of Alcoa from $55.00 to $60.00 and gave the stock a buy rating in a report on Tuesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $62.76.
AA stock opened at $44.26 on Monday. The firm has a market capitalization of $8.49 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.83 and a beta of 0.01. The company has a current ratio of 1.39, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. Alcoa has a 12 month low of $30.65 and a 12 month high of $62.35.
Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, April 18th. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.60 by $0.17. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.16 billion. Alcoa had a net margin of 1.17% and a return on equity of 7.72%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. research analysts expect that Alcoa will post 4.86 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Centaurus Financial Inc. acquired a new position in Alcoa during the first quarter worth $112,000. Sciencast Management LP acquired a new position in Alcoa during the first quarter worth $217,000. American International Group Inc. acquired a new position in Alcoa during the fourth quarter worth $208,000. Vident Investment Advisory LLC acquired a new position in Alcoa during the fourth quarter worth $224,000. Finally, Saybrook Capital NC acquired a new position in Alcoa during the fourth quarter worth $226,000.
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.
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