Argus Lowers Alcoa (NYSE:AA) to Hold

Argus lowered shares of Alcoa (NYSE:AA) from a buy rating to a hold rating in a research report report published on Friday, BenzingaRatingsTable reports.

Several other analysts also recently commented on the stock. Morgan Stanley reiterated an equal weight rating and issued a GBX 250 ($3.27) target price on shares of BT Group in a report on Tuesday, April 30th. Macquarie reiterated a neutral rating on shares of Glencore in a report on Tuesday, July 9th. JPMorgan Chase & Co. set a €8.75 ($10.17) price target on shares of Commerzbank and gave the company a buy rating in a research report on Thursday, April 18th. Gabelli lowered shares of KEYW from a buy rating to a hold rating in a research report on Monday, April 22nd. Finally, Deutsche Bank set a $81.00 price target on shares of Franco Nevada and gave the company a hold rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $35.69.

Shares of AA stock opened at $23.11 on Friday. The firm has a 50-day moving average price of $22.38. The stock has a market capitalization of $4.29 billion, a P/E ratio of 22.01 and a beta of 1.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.83 and a current ratio of 1.47. Alcoa has a one year low of $20.82 and a one year high of $45.65.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, July 17th. The industrial products company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.33. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.77 billion. Alcoa had a negative net margin of 4.92% and a positive return on equity of 2.74%. The firm’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.52 earnings per share. On average, equities research analysts predict that Alcoa will post -0.07 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its position in Alcoa by 143.3% during the first quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock valued at $28,000 after buying an additional 589 shares during the period. Farmers National Bank bought a new position in Alcoa during the first quarter worth about $32,000. Penserra Capital Management LLC bought a new position in Alcoa during the first quarter worth about $107,000. Investors Research Corp bought a new position in Alcoa during the first quarter worth about $124,000. Finally, B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new position in Alcoa during the fourth quarter worth about $297,000.

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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Analyst Recommendations for Alcoa (NYSE:AA)

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