Alcoa (AA) Upgraded by Zacks Investment Research to “Hold”

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Zacks Investment Research upgraded shares of Alcoa (NYSE:AA) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Alcoa is a global industry leader in bauxite, alumina and aluminum products. “

A number of other analysts also recently commented on AA. Citigroup dropped their price objective on Alcoa from $53.00 to $33.00 and set a neutral rating on the stock in a research note on Friday, November 16th. ValuEngine downgraded Alcoa from a sell rating to a strong sell rating in a research note on Tuesday, November 27th. Credit Suisse Group dropped their price objective on Alcoa from $58.00 to $50.00 and set an outperform rating on the stock in a research note on Friday, December 7th. B. Riley reissued a buy rating and issued a $49.00 price objective (down previously from $50.00) on shares of Alcoa in a research note on Thursday, December 20th. Finally, BMO Capital Markets set a $45.00 price objective on Alcoa and gave the stock a buy rating in a research note on Thursday, December 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $53.27.

Shares of Alcoa stock opened at $27.89 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.85 and a current ratio of 1.42. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 7.79, a price-to-earnings-growth ratio of 3.74 and a beta of 1.14. Alcoa has a 1-year low of $25.01 and a 1-year high of $62.35.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, January 16th. The industrial products company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.16. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.31 billion. Alcoa had a return on equity of 9.21% and a net margin of 1.69%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 EPS. On average, research analysts forecast that Alcoa will post 1.89 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Cerebellum GP LLC raised its position in shares of Alcoa by 8.1% during the fourth quarter. Cerebellum GP LLC now owns 4,798 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 361 shares during the period. State of Alaska Department of Revenue raised its position in shares of Alcoa by 2.0% during the fourth quarter. State of Alaska Department of Revenue now owns 19,844 shares of the industrial products company’s stock worth $527,000 after purchasing an additional 380 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Alcoa by 0.4% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 239,433 shares of the industrial products company’s stock worth $6,364,000 after purchasing an additional 920 shares during the period. Chartwell Investment Partners LLC raised its position in shares of Alcoa by 1.9% during the fourth quarter. Chartwell Investment Partners LLC now owns 63,630 shares of the industrial products company’s stock worth $1,691,000 after purchasing an additional 1,158 shares during the period. Finally, We Are One Seven LLC acquired a new stake in shares of Alcoa during the fourth quarter worth $35,000.

Alcoa Company Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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