Alcoa (NYSE:AA) Upgraded by Weiss Ratings to Hold (C-) Rating

Key Points

• Alcoa (NYSE:AA) has been upgraded from a "sell (d+)" to a "hold (c-)" rating by Weiss Ratings, reflecting a change in analyst sentiment.
• The stock showed a noticeable increase, trading up to $37.08, while its market cap stands at approximately $9.60 billion.
• In a recent earnings report, Alcoa reported $0.39 earnings per share (EPS), surpassing analysts' expectations of $0.29 and demonstrating a year-over-year revenue increase of 3.9%.

Alcoa (NYSE:AA - Get Free Report) was upgraded by investment analysts at Weiss Ratings from a "sell (d+)" rating to a "hold (c-)" rating in a report issued on Wednesday,Weiss Ratings reports.

AA has been the subject of several other reports. Wall Street Zen downgraded Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Wells Fargo & Company initiated coverage on Alcoa in a research note on Tuesday. They set an "overweight" rating and a $40.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Morgan Stanley upped their target price on Alcoa from $38.00 to $42.50 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Citigroup raised Alcoa to a "buy" rating and set a $42.00 price target for the company in a report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $42.46.

Alcoa Stock Performance

Alcoa stock traded up $1.55 during midday trading on Wednesday, hitting $37.08. The stock had a trading volume of 5,212,093 shares, compared to its average volume of 5,990,017. The firm's fifty day moving average is $31.66 and its two-hundred day moving average is $29.32. The company has a market capitalization of $9.60 billion, a PE ratio of 9.68, a P/E/G ratio of 0.21 and a beta of 2.20. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the firm posted $0.16 EPS. The company's revenue was up 3.9% on a year-over-year basis. On average, research analysts forecast that Alcoa will post 4.43 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AA. IFP Advisors Inc boosted its position in Alcoa by 1,096.0% during the second quarter. IFP Advisors Inc now owns 897 shares of the industrial products company's stock worth $26,000 after purchasing an additional 822 shares in the last quarter. Horrell Capital Management Inc. acquired a new stake in Alcoa in the 2nd quarter worth about $30,000. Montag A & Associates Inc. acquired a new stake in Alcoa in the 1st quarter worth about $40,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Alcoa in the 3rd quarter valued at about $53,000. Finally, Quarry LP acquired a new position in shares of Alcoa in the 1st quarter valued at about $57,000.

Alcoa Company Profile

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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