Alcoa (AA) Reaches New 12-Month Low at $33.88

Alcoa Corp (NYSE:AA) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $33.88 and last traded at $34.87, with a volume of 172050 shares traded. The stock had previously closed at $34.20.

A number of research analysts have issued reports on the stock. Deutsche Bank cut their target price on shares of Alcoa from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, July 24th. ValuEngine downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. Morgan Stanley cut their target price on shares of Alcoa from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, July 23rd. Credit Suisse Group cut their target price on shares of Alcoa from $69.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, July 19th. Finally, BMO Capital Markets cut their target price on shares of Alcoa from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Alcoa presently has a consensus rating of “Buy” and a consensus price target of $61.67.

The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.04 and a beta of -0.10. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.42.



Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 17th. The industrial products company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.27. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a negative net margin of 0.09% and a positive return on equity of 10.43%. Alcoa’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. Equities research analysts expect that Alcoa Corp will post 3.72 EPS for the current year.

Alcoa announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 17th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Several large investors have recently made changes to their positions in AA. LPL Financial LLC raised its position in shares of Alcoa by 15.8% in the 1st quarter. LPL Financial LLC now owns 50,289 shares of the industrial products company’s stock valued at $2,261,000 after acquiring an additional 6,855 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of Alcoa by 44.3% in the 1st quarter. Xact Kapitalforvaltning AB now owns 24,427 shares of the industrial products company’s stock valued at $1,098,000 after acquiring an additional 7,500 shares during the period. CIBC World Markets Inc. acquired a new stake in shares of Alcoa in the 1st quarter valued at approximately $417,000. Allianz Asset Management GmbH raised its position in shares of Alcoa by 3.6% in the 1st quarter. Allianz Asset Management GmbH now owns 1,040,150 shares of the industrial products company’s stock valued at $46,765,000 after acquiring an additional 36,083 shares during the period. Finally, Suntrust Banks Inc. raised its position in shares of Alcoa by 17.0% in the 1st quarter. Suntrust Banks Inc. now owns 29,783 shares of the industrial products company’s stock valued at $1,337,000 after acquiring an additional 4,331 shares during the period.

About Alcoa (NYSE:AA)

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.

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