Alcoa (NYSE:AA) Stock Rating Lowered by Wall Street Zen

Alcoa (NYSE:AA) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday, Wall Street Zen reports.

A number of other research firms have also recently commented on AA. UBS Group dropped their target price on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. JPMorgan Chase & Co. decreased their price target on shares of Alcoa from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Freedom Broker lowered their price objective on shares of Alcoa from $76.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, October 20th. Morgan Stanley lowered their price objective on shares of Alcoa from $53.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 7th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Alcoa in a research note on Friday, October 16th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Alcoa currently has an average rating of “Hold” and a consensus target price of $58.23.

Alcoa Trading Up 2.0%

Shares of AA opened at $38.66 on Friday. Alcoa has a 52-week low of $35.12 and a 52-week high of $84.38. The business’s fifty day moving average is $45.56 and its 200-day moving average is $56.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.31. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 6.68, a PEG ratio of 0.56 and a beta of 1.74.

Alcoa (NYSE:AA) last released its quarterly earnings data on Thursday, October 15th. The industrial products company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.31. Alcoa had a return on equity of 24.58% and a net margin of 10.77%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the firm posted $0.88 earnings per share. Alcoa’s revenue was up 23.7% compared to the same quarter last year. Equities analysts anticipate that Alcoa will post 6.70 EPS for the current fiscal year.

Insider Transactions at Alcoa

In other news, EVP Renato Bacchi sold 700 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $51.02, for a total transaction of $35,714.00. Following the sale, the executive vice president directly owned 74,930 shares in the company, valued at approximately $3,822,928.60. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Tammi Jones sold 15,628 shares of the business’s 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 sale, the executive vice president owned 39,819 shares in the company, valued at approximately $2,014,841.40. This trade represents a 28.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Investors Weigh In On Alcoa

Hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. grew its holdings in Alcoa by 275.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 31,704 shares of the industrial products company’s stock worth $1,332,000 after acquiring an additional 23,258 shares during the last quarter. Visionary Horizons LLC bought a new position in shares of Alcoa during the third quarter valued at $261,000. Root Financial Partners LLC bought a new position in shares of Alcoa during the third quarter valued at $42,000. Quadrant Capital Group LLC raised its stake in shares of Alcoa by 2.7% during the third quarter. Quadrant Capital Group LLC now owns 23,979 shares of the industrial products company’s stock valued at $995,000 after acquiring an additional 624 shares during the last quarter. Finally, Shelton Wealth Management LLC raised its stake in shares of Alcoa by 24.7% during the third quarter. Shelton Wealth Management LLC now owns 17,693 shares of the industrial products company’s stock valued at $743,000 after acquiring an additional 3,507 shares during the last quarter.

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.