Argus downgraded shares of Alcoa (NYSE:AA) from a buy rating to a hold rating in a research note released on Friday morning, BenzingaRatingsTable reports.
A number of other analysts have also weighed in on the stock. Gabelli lowered shares of KEYW from a buy rating to a hold rating in a report on Monday, April 22nd. ValuEngine raised shares of Vale from a sell rating to a hold rating in a research note on Tuesday, July 16th. Deutsche Bank set a $81.00 price target on shares of Franco Nevada and gave the stock a hold rating in a research note on Thursday, July 11th. TheStreet downgraded shares of Titan Machinery from a b rating to a c+ rating in a research note on Thursday, March 28th. Finally, Morgan Stanley reissued an equal weight rating and issued a GBX 250 ($3.27) price target on shares of BT Group in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $35.69.
NYSE AA opened at $22.98 on Friday. The company’s 50-day simple moving average is $22.49. The company has a current ratio of 1.47, a quick ratio of 0.83 and a debt-to-equity ratio of 0.25. Alcoa has a 12-month low of $20.82 and a 12-month high of $45.65. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 6.42 and a beta of 1.34.
Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, July 17th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.33. Alcoa had a negative net margin of 4.92% and a positive return on equity of 2.74%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The company’s revenue was down 24.3% on a year-over-year basis. Equities analysts expect that Alcoa will post -0.07 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in shares of Alcoa by 143.3% during the first quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 589 shares in the last quarter. Farmers National Bank bought a new position in shares of Alcoa during the first quarter valued at approximately $32,000. Penserra Capital Management LLC bought a new position in shares of Alcoa during the first quarter valued at approximately $107,000. Investors Research Corp bought a new position in shares of Alcoa during the first quarter valued at approximately $124,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Alcoa during the first quarter valued at approximately $235,000.
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; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
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