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

StockNews.com downgraded shares of Alcoa (NYSE:AA) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

Other analysts have also issued research reports about the company. B. Riley Financial reaffirmed a neutral rating and issued a $41.00 target price on shares of Alcoa in a report on Tuesday. UBS Group raised their price objective on shares of Alcoa from $38.00 to $40.00 and gave the stock a buy rating in a research note on Thursday. Bank of America dropped their target price on shares of Alcoa from $46.00 to $43.00 and set a neutral rating on the stock in a research report on Thursday, July 18th. Morgan Stanley reduced their price target on shares of Alcoa from $50.00 to $48.00 and set an overweight rating for the company in a report on Monday, July 22nd. Finally, Wolfe Research upgraded shares of Alcoa from a peer perform rating to an outperform rating and set a $36.00 price objective on the stock in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $40.45.

Alcoa Price Performance

Shares of Alcoa stock opened at $33.83 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $32.61 and a 200-day simple moving average of $35.61. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of -9.00 and a beta of 2.42. Alcoa has a 1-year low of $23.07 and a 1-year high of $45.48.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) EPS. On average, sell-side analysts expect that Alcoa will post 0.7 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were given a dividend of $0.10 per share. The ex-dividend date was Monday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.18%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Institutional Trading of Alcoa

A number of large investors have recently bought and sold shares of AA. ANTIPODES PARTNERS Ltd bought a new stake in Alcoa during the second quarter worth about $93,061,000. L1 Capital Pty Ltd bought a new stake in Alcoa during the 1st quarter worth approximately $72,658,000. Norges Bank acquired a new stake in Alcoa during the 4th quarter valued at $45,730,000. Marshall Wace LLP raised its position in Alcoa by 770.9% in the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock valued at $56,599,000 after purchasing an additional 1,259,430 shares during the last quarter. Finally, ARGA Investment Management LP boosted its stake in Alcoa by 202.2% in the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after purchasing an additional 997,912 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.

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.