Alcoa Corp (NYSE:AA) fell 7.5% during trading on Wednesday . The company traded as low as $17.50 and last traded at $17.67, 4,272,943 shares changed hands during mid-day trading. An increase of 17% from the average session volume of 3,640,608 shares. The stock had previously closed at $19.11.
A number of brokerages recently commented on AA. ValuEngine upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank cut Alcoa from a “buy” rating to a “hold” rating and decreased their price target for the stock from $35.00 to $23.00 in a research report on Thursday, July 11th. Zacks Investment Research cut Alcoa from a “hold” rating to a “sell” rating in a research report on Monday, July 15th. Argus cut Alcoa from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, BMO Capital Markets set a $35.00 price target on Alcoa and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Alcoa currently has a consensus rating of “Hold” and a consensus target price of $35.69.
The stock’s 50 day moving average price is $22.07. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 4.94 and a beta of 1.34. The company has a quick ratio of 0.81, a current ratio of 1.51 and a debt-to-equity ratio of 0.26.
Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, July 17th. The industrial products company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.33. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.77 billion. Alcoa had a positive return on equity of 2.78% and a negative net margin of 4.92%. Alcoa’s revenue was down 24.3% compared to the same quarter last year. During the same period last year, the firm posted $1.52 earnings per share. Equities analysts predict that Alcoa Corp will post -0.23 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Alcoa by 9.1% during 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 during the period. Geode Capital Management LLC lifted its stake in shares of Alcoa by 2.2% during 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 during the period. Chartwell Investment Partners LLC lifted its stake in shares of Alcoa by 6.6% during the first quarter. Chartwell Investment Partners LLC now owns 67,848 shares of the industrial products company’s stock valued at $1,911,000 after buying an additional 4,218 shares during the period. Sciencast Management LP purchased a new position in Alcoa during the first quarter worth approximately $482,000. Finally, Prime Capital Investment Advisors LLC raised its stake in Alcoa by 291.0% during the first quarter. Prime Capital Investment Advisors LLC now owns 17,950 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 13,359 shares during the period.
Alcoa Company Profile (NYSE:AA)
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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