Alcoa (NYSE:AA) Trading Down 5.6%

Alcoa Corp (NYSE:AA) shares fell 5.6% on Tuesday . The stock traded as low as $14.30 and last traded at $14.50, 6,274,804 shares were traded during mid-day trading. A decline of 4% from the average session volume of 6,509,708 shares. The stock had previously closed at $15.36.

Several research firms have issued reports on AA. B. Riley cut their price target on shares of Alcoa from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, December 20th. ValuEngine upgraded Alcoa from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Deutsche Bank raised Alcoa from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $21.50 to $20.50 in a research report on Friday, January 17th. Zacks Investment Research downgraded Alcoa from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley reduced their target price on Alcoa from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $23.75.

The stock’s 50 day simple moving average is $16.63 and its 200-day simple moving average is $19.41. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -2.39 and a beta of 1.56. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.81 and a current ratio of 1.48.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, January 15th. The industrial products company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.09). The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.49 billion. Alcoa had a negative return on equity of 2.71% and a negative net margin of 10.78%. The company’s quarterly revenue was down 27.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, analysts expect that Alcoa Corp will post -0.25 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. TRUE Private Wealth Advisors purchased a new position in shares of Alcoa in the fourth quarter worth about $25,000. Lindbrook Capital LLC boosted its position in Alcoa by 323.7% in the third quarter. Lindbrook Capital LLC now owns 1,339 shares of the industrial products company’s stock valued at $27,000 after buying an additional 1,023 shares during the last quarter. Regal Wealth Group Inc. purchased a new stake in Alcoa in the third quarter valued at approximately $30,000. First Mercantile Trust Co. acquired a new position in Alcoa in the 3rd quarter worth approximately $112,000. Finally, Penserra Capital Management LLC acquired a new position in Alcoa in the 4th quarter worth approximately $175,000.

Alcoa Company Profile (NYSE:AA)

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.

Read More: Sell-Side Analysts

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