Zacks Investment Research Lowers Alcoa (AA) to Hold

Zacks Investment Research cut shares of Alcoa (NYSE:AA) from a strong-buy rating to a hold rating in a research note released on Monday morning.

According to Zacks, “Alcoa is a global industry leader in bauxite, alumina and aluminum products. “

A number of other research firms also recently weighed in on AA. Credit Suisse Group upped their target price on Alcoa from $61.00 to $71.00 and gave the stock an outperform rating in a research report on Thursday, April 19th. Cowen upped their target price on Alcoa from $51.00 to $67.00 and gave the stock a market perform rating in a research report on Thursday, April 19th. Goldman Sachs Group started coverage on Alcoa in a research report on Tuesday, March 20th. They issued a neutral rating and a $52.00 target price for the company. BMO Capital Markets restated an outperform rating and issued a $80.00 target price on shares of Alcoa in a research report on Thursday, April 19th. Finally, JPMorgan Chase & Co. upped their target price on Alcoa and gave the stock an overweight rating in a research report on Thursday, April 19th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Alcoa presently has a consensus rating of Buy and an average price target of $62.76.

AA opened at $45.74 on Monday. Alcoa has a 12 month low of $31.93 and a 12 month high of $62.35. The company has a market capitalization of $8.54 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 0.84 and a beta of 0.01. The company has a quick ratio of 0.85, a current ratio of 1.39 and a debt-to-equity ratio of 0.19.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, April 18th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.17. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.16 billion. Alcoa had a return on equity of 7.72% and a net margin of 1.17%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. research analysts forecast that Alcoa will post 4.84 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in AA. Suntrust Banks Inc. lifted its holdings in shares of Alcoa by 17.0% in the first quarter. Suntrust Banks Inc. now owns 29,783 shares of the industrial products company’s stock valued at $1,337,000 after purchasing an additional 4,331 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Alcoa by 3.6% in the first quarter. Allianz Asset Management GmbH now owns 1,040,150 shares of the industrial products company’s stock valued at $46,765,000 after purchasing an additional 36,083 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Alcoa by 0.8% in the first quarter. WINTON GROUP Ltd now owns 215,606 shares of the industrial products company’s stock valued at $9,694,000 after purchasing an additional 1,794 shares in the last quarter. Levin Capital Strategies L.P. lifted its holdings in shares of Alcoa by 59.5% in the first quarter. Levin Capital Strategies L.P. now owns 6,702 shares of the industrial products company’s stock valued at $301,000 after purchasing an additional 2,500 shares in the last quarter. Finally, CIBC World Markets Inc. purchased a new stake in shares of Alcoa in the first quarter valued at $417,000.

Alcoa Company Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.

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