Deutsche Bank lowered shares of Alcoa (NYSE:AA) from a buy rating to a hold rating in a report published on Thursday, Benzinga’s Daily Ratings Newsletter reports. Deutsche Bank currently has $23.00 price objective on the industrial products company’s stock, down from their prior price objective of $35.00.
AA has been the topic of several other reports. Morgan Stanley restated an equal weight rating and set a GBX 250 ($3.27) target price on shares of BT Group in a report on Tuesday, April 30th. JPMorgan Chase & Co. set a €8.75 ($10.17) target price on shares of Commerzbank and gave the stock a buy rating in a report on Thursday, April 18th. ValuEngine downgraded shares of Zogenix from a strong-buy rating to a buy rating in a report on Thursday, April 11th. TheStreet downgraded shares of Titan Machinery from a b rating to a c+ rating in a report on Thursday, March 28th. Finally, Gabelli downgraded shares of KEYW from a buy rating to a hold rating in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Alcoa has a consensus rating of Hold and an average price target of $36.69.
Shares of NYSE:AA opened at $22.60 on Thursday. The firm has a market cap of $4.17 billion, a P/E ratio of 6.31, a price-to-earnings-growth ratio of 17.72 and a beta of 1.34. The company has a 50 day moving average price of $22.33. The company has a quick ratio of 0.83, a current ratio of 1.47 and a debt-to-equity ratio of 0.25. Alcoa has a fifty-two week low of $20.82 and a fifty-two week high of $48.75.
Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.06). The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.87 billion. Alcoa had a negative net margin of 0.94% and a positive return on equity of 6.75%. The business’s revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, equities analysts anticipate that Alcoa will post 0.32 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Alcoa by 3.7% during the 4th quarter. BlackRock Inc. now owns 9,525,897 shares of the industrial products company’s stock worth $253,197,000 after acquiring an additional 340,639 shares in the last quarter. Norges Bank bought a new position in shares of Alcoa during the 4th quarter worth approximately $210,497,000. Dimensional Fund Advisors LP grew its stake in shares of Alcoa by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,704,529 shares of the industrial products company’s stock valued at $125,053,000 after buying an additional 393,862 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Alcoa by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,912,090 shares of the industrial products company’s stock valued at $50,823,000 after buying an additional 40,522 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Alcoa by 0.6% in the fourth quarter. Northern Trust Corp now owns 1,716,216 shares of the industrial products company’s stock valued at $45,617,000 after buying an additional 9,756 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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