Alcoa (NYSE:AA) Cut to “Sell” at StockNews.com

Alcoa (NYSE:AA) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price target on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Bank of America lifted their price objective on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. BMO Capital Markets lifted their price objective on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday. B. Riley lifted their price objective on Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Jefferies Financial Group lifted their price objective on Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Alcoa presently has a consensus rating of “Hold” and an average target price of $32.96.

Alcoa Price Performance

Shares of NYSE AA traded up $0.06 during trading hours on Friday, reaching $35.53. 8,014,809 shares of the stock traded hands, compared to its average volume of 6,457,585. The company has a market capitalization of $6.38 billion, a P/E ratio of -9.45, a price-to-earnings-growth ratio of 2.28 and a beta of 2.47. The company has a quick ratio of 0.74, a current ratio of 1.45 and a debt-to-equity ratio of 0.30. Alcoa has a 52-week low of $23.07 and a 52-week high of $42.23. The company’s 50-day simple moving average is $31.14 and its two-hundred day simple moving average is $29.06.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.30%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.23) earnings per share. Equities research analysts forecast that Alcoa will post 0.33 EPS for the current year.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of Alcoa stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the transaction, the executive vice president now owns 41,166 shares in the company, valued at $1,267,089.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Alcoa

Large investors have recently modified their holdings of the company. Raymond James & Associates grew its holdings in shares of Alcoa by 3,731.1% in the fourth quarter. Raymond James & Associates now owns 799,705 shares of the industrial products company’s stock worth $27,190,000 after acquiring an additional 778,831 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Alcoa by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,234,472 shares of the industrial products company’s stock valued at $35,874,000 after purchasing an additional 54,876 shares during the period. Nordea Investment Management AB grew its holdings in Alcoa by 132.2% during the fourth quarter. Nordea Investment Management AB now owns 112,082 shares of the industrial products company’s stock valued at $3,824,000 after purchasing an additional 63,816 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in Alcoa during the fourth quarter valued at about $227,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Alcoa by 90.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 61,801 shares of the industrial products company’s stock valued at $1,796,000 after purchasing an additional 29,431 shares during the period.

About Alcoa

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.