Alcoa (NYSE:AA) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Alcoa (NYSE:AA) from a hold rating to a sell rating in a report published on Monday morning, Zacks.com reports.

According to Zacks, “Alcoa is a global industry leader in bauxite, alumina and aluminum products. “

A number of other analysts have also recently commented on the company. ValuEngine cut Zogenix from a strong-buy rating to a buy rating in a research report on Thursday, April 11th. Jefferies Financial Group reiterated a sell rating on shares of Hi-Crush Partners in a research report on Tuesday, April 2nd. Macquarie reiterated a neutral rating on shares of Glencore in a research report on Tuesday, July 9th. Gabelli cut KEYW from a buy rating to a hold rating in a research report on Monday, April 22nd. Finally, Deutsche Bank set a $81.00 price objective on Franco Nevada and gave the stock a hold rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $36.69.



Shares of AA stock opened at $23.41 on Monday. Alcoa has a fifty-two week low of $20.82 and a fifty-two week high of $46.30. The stock has a market capitalization of $4.29 billion, a PE ratio of 22.05 and a beta of 1.34. The firm has a fifty day moving average price of $22.35. The company has a current ratio of 1.47, a quick ratio of 0.83 and a debt-to-equity ratio of 0.25.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, July 17th. The industrial products company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.33. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Alcoa had a positive return on equity of 2.74% and a negative net margin of 4.92%. The firm’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 EPS. Analysts forecast that Alcoa will post -0.05 EPS for the current year.

Large investors have recently modified their holdings of the business. Fox Run Management L.L.C. purchased a new stake in Alcoa during the 2nd quarter worth approximately $301,000. Exane Derivatives purchased a new stake in Alcoa during the 2nd quarter worth approximately $328,000. Amundi Pioneer Asset Management Inc. increased its holdings in Alcoa by 0.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 187,756 shares of the industrial products company’s stock worth $5,287,000 after purchasing an additional 1,251 shares during the last quarter. FMR LLC increased its holdings in Alcoa by 136.4% during the 1st quarter. FMR LLC now owns 1,048,586 shares of the industrial products company’s stock worth $29,528,000 after purchasing an additional 605,094 shares during the last quarter. Finally, Adirondack Research & Management Inc. increased its holdings in Alcoa by 23.1% during the 1st quarter. Adirondack Research & Management Inc. now owns 110,920 shares of the industrial products company’s stock worth $3,124,000 after purchasing an additional 20,792 shares during the last quarter.

About Alcoa

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: Capital Gains

Get a free copy of the Zacks research report on Alcoa (AA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Alcoa (NYSE:AA)

Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.