Alcoa (NYSE:AA) Stock Rating Upgraded by Zacks Research

Alcoa (NYSE:AA) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

Several other research analysts also recently commented on AA. UBS Group decreased their price target on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. JPMorgan Chase & Co. cut their price objective on shares of Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. B. Riley Financial reduced their target price on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $53.00 price target (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.09.

Alcoa Price Performance

Shares of Alcoa stock opened at $46.51 on Monday. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $12.27 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 0.53 and a beta of 1.63. The business’s 50-day moving average price is $48.50 and its 200-day moving average price is $59.01. Alcoa has a 12 month low of $30.81 and a 12 month high of $84.38.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same period in the prior year, the business posted $0.39 earnings per share. Sell-side analysts forecast that Alcoa will post 6.55 EPS for the current fiscal year.

Insider Transactions at Alcoa

In other news, EVP Tammi Jones sold 15,628 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $50.60, for a total transaction of $790,776.80. Following the completion of the transaction, the executive vice president directly owned 39,819 shares of the company’s stock, valued at approximately $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Renato Bacchi sold 700 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $51.02, for a total transaction of $35,714.00. Following the sale, the executive vice president owned 74,930 shares of the company’s stock, valued at approximately $3,822,928.60. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Trading of Alcoa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC raised its holdings in Alcoa by 3.4% in the first quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 170 shares in the last quarter. Essential Partners LLC boosted its holdings in shares of Alcoa by 0.9% during the 1st quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company’s stock valued at $1,361,000 after buying an additional 193 shares in the last quarter. Himension Capital Singapore PTE. LTD. boosted its holdings in shares of Alcoa by 1.3% during the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company’s stock valued at $1,235,000 after buying an additional 246 shares in the last quarter. Sage Rhino Capital LLC grew its position in shares of Alcoa by 7.0% in the 1st quarter. Sage Rhino Capital LLC now owns 4,276 shares of the industrial products company’s stock worth $284,000 after buying an additional 279 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Alcoa by 4.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,373 shares of the industrial products company’s stock worth $332,000 after buying an additional 282 shares during the period.

Alcoa Company Profile

Alcoa Corporation (NYSE:AA) is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of select value-added aluminum products. The company serves customers in industries such as transportation, aerospace, construction, packaging, consumer products and energy.

Founded in 1888 as the Pittsburgh Reduction Company, Alcoa played a major role in developing the commercial aluminum industry and adopted the Alcoa name in 1907.