Alcoa (NYSE:AA) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of Alcoa (NYSE:AA) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

Several other equities analysts also recently commented on AA. Deutsche Bank set a $81.00 target price on shares of Franco Nevada and gave the stock a hold rating in a report on Thursday, July 11th. JPMorgan Chase & Co. set a €8.75 ($10.17) price target on shares of Commerzbank and gave the company a buy rating in a research note on Thursday, April 18th. Jefferies Financial Group reaffirmed a sell rating on shares of Hi-Crush Partners in a research note on Tuesday, April 2nd. Gabelli downgraded shares of KEYW from a buy rating to a hold rating in a research note on Monday, April 22nd. Finally, Credit Suisse Group decreased their price target on shares of Diplomat Pharmacy from $10.00 to $8.00 and set a neutral rating on the stock in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $35.69.

AA stock opened at $23.11 on Tuesday. Alcoa has a one year low of $20.82 and a one year high of $45.65. The stock has a fifty day moving average of $22.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.47 and a quick ratio of 0.83. The stock has a market capitalization of $4.29 billion, a P/E ratio of 6.46 and a beta of 1.34.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 17th. The industrial products company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.33. Alcoa had a negative net margin of 4.92% and a positive return on equity of 2.74%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. As a group, equities analysts expect that Alcoa will post -0.05 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC increased its position in Alcoa by 143.3% during the first quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 589 shares during the last quarter. Farmers National Bank bought a new position in Alcoa during the first quarter valued at $32,000. Penserra Capital Management LLC bought a new position in Alcoa during the first quarter valued at $107,000. Investors Research Corp bought a new position in Alcoa during the first quarter valued at $124,000. Finally, Oppenheimer & Co. Inc. bought a new position in Alcoa during the first quarter valued at $235,000.

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.

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Analyst Recommendations for Alcoa (NYSE:AA)

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