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

Alcoa (NYSE:AA – Get Rating) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

A number of other research firms also recently weighed in on AA. B. Riley lifted their price objective on Alcoa from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, January 19th. UBS Group boosted their price objective on shares of Alcoa from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 1st. Citigroup upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $65.00 in a research report on Tuesday, February 21st. Morgan Stanley dropped their target price on shares of Alcoa from $56.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, January 20th. Finally, BMO Capital Markets dropped their target price on shares of Alcoa from $55.00 to $50.00 and set a “market perform” rating for the company in a research report on Thursday, January 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Alcoa has a consensus rating of “Hold” and an average target price of $61.67.

Alcoa Price Performance

AA opened at $39.15 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.75 and a debt-to-equity ratio of 0.27. Alcoa has a 12-month low of $33.55 and a 12-month high of $98.09. The stock has a fifty day moving average of $50.00 and a 200-day moving average of $45.92. The firm has a market capitalization of $6.98 billion, a P/E ratio of -46.06, a PEG ratio of 5.33 and a beta of 2.45.

Alcoa (NYSE:AA – Get Rating) last posted its earnings results on Wednesday, January 18th. The industrial products company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.15. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.70 billion. Alcoa had a positive return on equity of 13.17% and a negative net margin of 0.82%. The business’s revenue was down 20.3% compared to the same quarter last year. During the same period last year, the company earned $2.50 earnings per share. Equities analysts forecast that Alcoa will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling at Alcoa

In other Alcoa news, CEO Roy Christopher Harvey sold 30,000 shares of the stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $51.34, for a total value of $1,540,200.00. Following the transaction, the chief executive officer now directly owns 950,140 shares of the company’s stock, valued at approximately $48,780,187.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alcoa news, CEO Roy Christopher Harvey sold 30,000 shares of the stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $51.34, for a total transaction of $1,540,200.00. Following the transaction, the chief executive officer now owns 950,140 shares in the company, valued at approximately $48,780,187.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO William F. Oplinger sold 134,444 shares of the stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $53.04, for a total transaction of $7,130,909.76. Following the sale, the chief financial officer now owns 71,560 shares in the company, valued at approximately $3,795,542.40. The disclosure for this sale can be found here. Insiders have sold a total of 210,188 shares of company stock valued at $11,017,365 in the last three months.

Hedge Funds Weigh In On Alcoa

Several large investors have recently modified their holdings of AA. Wipfli Financial Advisors LLC bought a new position in Alcoa during the third quarter worth $27,000. JCIC Asset Management Inc. acquired a new stake in Alcoa in the third quarter worth $27,000. Neo Ivy Capital Management acquired a new position in shares of Alcoa during the second quarter valued at about $27,000. Spire Wealth Management grew its holdings in shares of Alcoa by 384.6% during the fourth quarter. Spire Wealth Management now owns 630 shares of the industrial products company’s stock valued at $29,000 after buying an additional 500 shares during the last quarter. Finally, Fairfield Bush & CO. acquired a new position in shares of Alcoa during the first quarter valued at about $29,000.

Alcoa Company Profile

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Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.