Alcoa (NYSE:AA) Downgraded by Wall Street Zen to "Hold"

Alcoa (NYSE:AA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $25.00 to $28.00 and gave the stock a "neutral" rating in a research report on Wednesday. HC Wainwright increased their price target on Alcoa to $90.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. B. Riley decreased their price target on Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M UBS Group reaffirmed a "neutral" rating and issued a $31.00 price objective on shares of Alcoa in a research report on Thursday, May 15th. Finally, Bank of America reiterated an "underperform" rating and set a $26.00 target price (down from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Alcoa currently has a consensus rating of "Hold" and an average price target of $42.75.

Alcoa Stock Performance

NYSE AA opened at $27.88 on Friday. The business's 50 day moving average price is $26.92 and its 200-day moving average price is $32.11. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The company has a market cap of $7.22 billion, a P/E ratio of 8.40, a P/E/G ratio of 0.15 and a beta of 2.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 1.71.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.73 by $0.42. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Sell-side analysts predict that Alcoa will post 4.43 earnings per share for the current year.

Hedge Funds Weigh In On Alcoa

Large investors have recently bought and sold shares of the business. Bessemer Group Inc. boosted its position in Alcoa by 77.1% during the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 296 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Alcoa by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company's stock worth $1,988,000 after purchasing an additional 300 shares during the last quarter. Continuum Advisory LLC boosted its position in Alcoa by 30.7% during the fourth quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 345 shares in the last quarter. Captrust Financial Advisors grew its stake in Alcoa by 5.8% in the fourth quarter. Captrust Financial Advisors now owns 6,569 shares of the industrial products company's stock valued at $248,000 after purchasing an additional 361 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 393 shares during the last quarter.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.

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