According to Zacks, “Alcoa is a global industry leader in bauxite, alumina and aluminum products. “
A number of other research analysts have also recently commented on the company. Goldman Sachs Group upgraded Alcoa from a “neutral” rating to a “buy” rating in a research note on Monday, September 23rd. Morgan Stanley decreased their price objective on Alcoa from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. G.Research downgraded Alcoa from a “buy” rating to a “hold” rating in a report on Monday, October 21st. JPMorgan Chase & Co. decreased their price objective on Alcoa from $44.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, B. Riley decreased their price objective on Alcoa from $28.00 to $25.00 and set a “buy” rating for the company in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $25.64.
Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 16th. The industrial products company reported ($0.44) EPS for the quarter, missing the Zacks’ 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 firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The firm’s revenue was down 24.3% on a year-over-year basis. Equities analysts anticipate that Alcoa will post -0.87 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in AA. Lindbrook Capital LLC lifted its position in Alcoa by 323.7% in the 3rd quarter. Lindbrook Capital LLC now owns 1,339 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 1,023 shares in the last quarter. Regal Wealth Group Inc. bought a new position in Alcoa in the 3rd quarter valued at about $30,000. Cerebellum GP LLC bought a new position in Alcoa in the 3rd quarter valued at about $127,000. Atria Investments LLC bought a new position in Alcoa in the 2nd quarter valued at about $711,000. Finally, Macquarie Group Ltd. lifted its position in Alcoa by 58.6% in the 2nd quarter. Macquarie Group Ltd. now owns 4,965 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 1,835 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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