Alcoa (NYSE:AA)‘s stock had its “hold” rating reiterated by equities research analysts at Argus in a research note issued on Friday, TipRanks reports.

Several other brokerages also recently weighed in on AA. Jefferies Financial Group downgraded Alcoa from a “buy” rating to a “hold” rating and reduced their price target for the company from $29.00 to $23.00 in a report on Thursday, July 18th. Goldman Sachs Group upgraded Alcoa from a “neutral” rating to a “buy” rating in a report on Monday, September 23rd. Macquarie downgraded Alcoa from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $34.00 to $25.00 in a report on Tuesday, July 9th. ValuEngine upgraded Alcoa from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Bank of America restated a “neutral” rating and set a $20.00 price target (down from $25.00) on shares of Alcoa in a report on Friday, August 16th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.25.

Alcoa stock traded up $1.24 on Friday, hitting $21.54. 6,001,514 shares of the stock traded hands, compared to its average volume of 4,291,348. The company has a current ratio of 1.48, a quick ratio of 0.81 and a debt-to-equity ratio of 0.28. The firm has a market cap of $3.77 billion, a P/E ratio of 6.02 and a beta of 1.47. The business’s fifty day simple moving average is $20.06 and its 200 day simple moving average is $22.50. Alcoa has a 1 year low of $16.46 and a 1 year high of $39.76.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.09). Alcoa had a negative net margin of 6.87% and a negative return on equity of 0.03%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. Alcoa’s revenue was down 24.3% compared to the same quarter last year. As a group, analysts predict that Alcoa will post -0.65 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Alcoa by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 17,218,938 shares of the industrial products company’s stock worth $403,094,000 after buying an additional 296,059 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Alcoa by 22.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,948,496 shares of the industrial products company’s stock worth $69,024,000 after buying an additional 549,600 shares in the last quarter. Northern Trust Corp increased its holdings in Alcoa by 6.0% in the 2nd quarter. Northern Trust Corp now owns 1,694,318 shares of the industrial products company’s stock worth $39,664,000 after buying an additional 95,637 shares in the last quarter. Morgan Stanley increased its holdings in Alcoa by 58.9% in the 2nd quarter. Morgan Stanley now owns 1,409,160 shares of the industrial products company’s stock worth $32,989,000 after buying an additional 522,612 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Alcoa by 1.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,103,226 shares of the industrial products company’s stock worth $25,827,000 after buying an additional 16,484 shares in the last quarter.

Alcoa Company Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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Analyst Recommendations for Alcoa (NYSE:AA)

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