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

Alcoa (NYSE:AAGet Rating) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Several other equities analysts also recently commented on the stock. Citigroup upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $65.00 in a research note on Tuesday, February 21st. Morgan Stanley dropped their price objective on shares of Alcoa from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, January 20th. UBS Group raised their price objective on shares of Alcoa from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, February 1st. BMO Capital Markets decreased their target price on shares of Alcoa from $55.00 to $50.00 and set a “market perform” rating for the company in a research report on Thursday, January 19th. Finally, B. Riley raised their price objective on shares of Alcoa from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, January 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.67.

Alcoa Trading Down 3.9 %

AA opened at $39.15 on Friday. Alcoa has a 1-year low of $33.55 and a 1-year high of $98.09. The firm has a 50-day moving average price of $50.00 and a two-hundred day moving average price of $45.92. The company has a current ratio of 1.75, a quick ratio of 0.94 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $6.98 billion, a PE ratio of -46.06, a PEG ratio of 5.33 and a beta of 2.45.

Alcoa (NYSE:AAGet Rating) last announced its quarterly earnings results on Wednesday, January 18th. The industrial products company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.15. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.70 billion. Alcoa had a negative net margin of 0.82% and a positive return on equity of 13.17%. The business’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 earnings per share. As a group, equities analysts anticipate that Alcoa will post 2.41 earnings per share for the current fiscal year.

Insider Transactions at Alcoa

In other news, CEO Roy Christopher Harvey sold 30,000 shares of the company’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $51.34, for a total transaction of $1,540,200.00. Following the transaction, the chief executive officer now directly owns 950,140 shares of the company’s stock, valued at $48,780,187.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Roy Christopher Harvey sold 30,000 shares of the stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $51.34, for a total transaction of $1,540,200.00. Following the completion of the sale, the chief executive officer now owns 950,140 shares in the company, valued at $48,780,187.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Harden Sonya Elam sold 4,514 shares of the stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $51.87, for a total value of $234,141.18. Following the sale, the executive vice president now owns 29,427 shares of the company’s stock, valued at approximately $1,526,378.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,188 shares of company stock valued at $11,017,365.

Hedge Funds Weigh In On Alcoa

Several institutional investors have recently added to or reduced their stakes in the company. Moors & Cabot Inc. grew its holdings in Alcoa by 2.2% during the 1st quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company’s stock valued at $788,000 after buying an additional 185 shares in the last quarter. Buckingham Strategic Partners lifted its stake in shares of Alcoa by 1.9% during the 3rd quarter. Buckingham Strategic Partners now owns 13,179 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 240 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Alcoa by 0.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 48,391 shares of the industrial products company’s stock worth $2,206,000 after acquiring an additional 284 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Alcoa by 0.6% during the 4th quarter. Arizona State Retirement System now owns 50,930 shares of the industrial products company’s stock worth $2,316,000 after acquiring an additional 286 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in shares of Alcoa by 4.0% during the 2nd quarter. Kestra Private Wealth Services LLC now owns 7,953 shares of the industrial products company’s stock worth $362,000 after acquiring an additional 305 shares during 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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