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

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

A number of other equities research analysts have also issued reports on the company. Bank of America increased their price target on Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Morgan Stanley increased their price objective on Alcoa from $27.00 to $29.50 and gave the company an “underweight” rating in a report on Thursday, January 18th. Jefferies Financial Group increased their price objective on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Finally, UBS Group increased their price objective on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a report on Friday. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.96.

Alcoa Price Performance

AA stock opened at $35.53 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.74. The firm has a market capitalization of $6.38 billion, a P/E ratio of -9.45, a P/E/G ratio of 2.40 and a beta of 2.47. The business’s 50-day moving average is $31.14 and its two-hundred day moving average is $29.07. Alcoa has a 1 year low of $23.07 and a 1 year high of $42.23.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. Alcoa’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.23) EPS. Analysts anticipate that Alcoa will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the sale, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Alcoa

Hedge funds have recently bought and sold shares of the stock. Neo Ivy Capital Management purchased a new position in Alcoa during the second quarter worth $27,000. Fairfield Bush & CO. purchased a new position in Alcoa during the first quarter worth $29,000. Tennessee Valley Asset Management Partners purchased a new position in Alcoa during the fourth quarter worth $31,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Alcoa in the fourth quarter valued at $32,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Alcoa in the fourth quarter valued at $33,000.

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.