Alcoa (NYSE:AA) Given “Hold” Rating at Argus

Alcoa (NYSE:AA)‘s stock had its “hold” rating reaffirmed by Argus in a research report issued to clients and investors on Thursday, Marketbeat.com reports.

AA has been the topic of a number of other research reports. Morgan Stanley reduced their price target on Alcoa from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 7th. B. Riley Financial lowered their price objective on Alcoa from $80.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Alcoa from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Royal Bank Of Canada set a $70.00 target price on shares of Alcoa in a research note on Wednesday, July 1st. Finally, Barclays assumed coverage on shares of Alcoa in a report on Wednesday, October 14th. They issued an “overweight” rating and a $55.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.23.

Alcoa Price Performance

Shares of AA opened at $40.68 on Thursday. The company has a market cap of $10.74 billion, a P/E ratio of 7.03, a PEG ratio of 0.60 and a beta of 1.74. Alcoa has a fifty-two week low of $35.12 and a fifty-two week high of $84.38. The company has a quick ratio of 1.66, a current ratio of 2.31 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average price is $46.24 and its 200 day moving average price is $55.38.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, October 15th. The industrial products company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.51 by $0.31. Alcoa had a net margin of 10.77% and a return on equity of 24.58%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the company posted $0.88 EPS. The firm’s revenue was up 23.7% compared to the same quarter last year. On average, research analysts forecast that Alcoa will post 6.67 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Tammi Jones sold 15,628 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $50.60, for a total value of $790,776.80. Following the transaction, the executive vice president owned 39,819 shares in the company, valued at approximately $2,014,841.40. This represents a 28.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Renato Bacchi sold 700 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $51.02, for a total value of $35,714.00. Following the completion of the transaction, the executive vice president owned 74,930 shares in the company, valued at approximately $3,822,928.60. The trade was a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Alcoa

Hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Alcoa during the 2nd quarter worth approximately $25,000. Western Wealth Management LLC acquired a new stake in Alcoa during the 1st quarter worth $35,000. Caitong International Asset Management Co. Ltd lifted its position in Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 581 shares during the last quarter. Costello Asset Management INC purchased a new stake in Alcoa in the first quarter valued at $53,000. Finally, Root Financial Partners LLC acquired a new position in Alcoa in the third quarter valued at $42,000. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Alcoa Company Profile

Alcoa Corporation (NYSE:AA) is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of value-added aluminum products. These materials serve customers in industries such as transportation, building and construction, packaging, aerospace and industrial manufacturing.

The company operates across multiple regions, with assets and activities in North America, South America, Europe, Australia and other international markets.