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

Alcoa (NYSE:AA - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Tuesday.

Other equities analysts have also issued reports about the stock. Morgan Stanley cut their price objective on shares of Alcoa from $50.00 to $48.00 and set an "overweight" rating for the company in a research report on Monday, July 22nd. UBS Group raised their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. began coverage on shares of Alcoa in a research report on Wednesday, September 25th. They issued a "neutral" rating and a $36.00 price objective for the company. B. Riley Financial restated a "neutral" rating and issued a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. Finally, Bank of America cut their price objective on shares of Alcoa from $46.00 to $43.00 and set a "neutral" rating for the company in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $41.64.

Alcoa Stock Performance

NYSE AA traded up $0.61 during trading hours on Tuesday, reaching $39.19. 4,429,017 shares of the company were exchanged, compared to its average volume of 6,037,880. Alcoa has a 1 year low of $23.07 and a 1 year high of $45.48. The business's 50 day simple moving average is $32.69 and its 200-day simple moving average is $36.13. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $7.04 billion, a P/E ratio of -10.42 and a beta of 2.42.

Alcoa (NYSE:AA - Get Free Report) last issued 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 company's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.35) earnings per share. On average, equities research analysts expect that Alcoa will post 0.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Alcoa by 15.1% in the second 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. increased its stake in shares of Alcoa by 1.4% in the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company's stock worth $1,073,000 after buying an additional 368 shares during the period. Diversified Trust Co increased its stake in shares of Alcoa by 5.7% in the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company's stock worth $262,000 after buying an additional 416 shares during the period. CWM LLC boosted its holdings in Alcoa by 19.5% in the second quarter. CWM LLC now owns 3,651 shares of the industrial products company's stock valued at $145,000 after acquiring an additional 596 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in Alcoa by 0.4% in the first quarter. New York State Teachers Retirement System now owns 153,900 shares of the industrial products company's stock valued at $5,200,000 after acquiring an additional 600 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other 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.