Alcoa (NYSE:AA) Rating Lowered to Sell at StockNews.com

by · The Cerbat Gem

StockNews.com cut shares of Alcoa (NYSE:AA – Free Report) from a hold rating to a sell rating in a research note published on Tuesday morning.

Other analysts also recently issued research reports about the company. Wolfe Research raised Alcoa from a peer perform rating to an outperform rating and set a $36.00 target price on the stock in a research note on Wednesday, September 4th. Morgan Stanley decreased their price target on shares of Alcoa from $50.00 to $48.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. UBS Group raised their price objective on Alcoa from $38.00 to $40.00 and gave the company a buy rating in a research report on Thursday, September 19th. B. Riley Financial reiterated a neutral rating and issued a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. began coverage on Alcoa in a research note on Wednesday, September 25th. They set a neutral rating and a $36.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $41.64.

Read Our Latest Stock Report on Alcoa

Alcoa Trading Up 2.5 %

NYSE:AA opened at $39.11 on Tuesday. Alcoa has a one year low of $23.07 and a one year high of $45.48. The business has a fifty day moving average price of $32.93 and a 200-day moving average price of $36.17. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of -10.38 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92.

Alcoa (NYSE:AA – Get Free Report) last posted its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.35) earnings per share. Sell-side analysts forecast that Alcoa will post 0.56 EPS for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were given a $0.10 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.02%. Alcoa’s dividend payout ratio is currently -10.64%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Fifth Third Bancorp raised its stake in shares of Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after buying an additional 309 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Alcoa by 1.4% during the 2nd quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock worth $1,073,000 after purchasing an additional 368 shares during the period. Diversified Trust Co raised its stake in shares of Alcoa by 5.7% in the 1st quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 416 shares during the period. CWM LLC raised its holdings in shares of Alcoa by 19.5% in the 2nd quarter. CWM LLC now owns 3,651 shares of the industrial products company’s stock valued at $145,000 after buying an additional 596 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in Alcoa by 0.4% during the 1st quarter. New York State Teachers Retirement System now owns 153,900 shares of the industrial products company’s stock worth $5,200,000 after acquiring an additional 600 shares in the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

About Alcoa

(Get Free Report)

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.

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