Alcoa (NYSE:AA) Cut to Neutral at Macquarie

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Macquarie cut shares of Alcoa (NYSE:AA) from an outperform rating to a neutral rating in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has $25.00 price objective on the industrial products company’s stock, down from their previous price objective of $34.00.

Several other equities research analysts also recently issued reports on AA. JPMorgan Chase & Co. set a €8.75 ($10.17) price objective on Commerzbank and gave the company a buy rating in a report on Thursday, April 18th. Zacks Investment Research upgraded HAYS PLC/ADR from a sell rating to a hold rating in a report on Tuesday, June 18th. Morgan Stanley reiterated an equal weight rating and issued a GBX 250 ($3.27) price objective on shares of BT Group in a report on Tuesday, April 30th. TheStreet downgraded Titan Machinery from a b rating to a c+ rating in a report on Thursday, March 28th. Finally, ValuEngine downgraded Zogenix from a strong-buy rating to a buy rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $36.69.

AA stock opened at $22.50 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.47 and a quick ratio of 0.83. The stock has a market cap of $4.17 billion, a P/E ratio of 6.28, a PEG ratio of 17.81 and a beta of 1.34. Alcoa has a 12-month low of $20.82 and a 12-month high of $48.75. The company has a fifty day moving average price of $22.34.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.06). The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Alcoa had a negative net margin of 0.94% and a positive return on equity of 6.75%. Alcoa’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. Sell-side analysts expect that Alcoa will post 0.32 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC increased its holdings in shares of Alcoa by 143.3% in the 1st quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 589 shares during the last quarter. Farmers National Bank acquired a new stake in shares of Alcoa in the 1st quarter valued at about $32,000. Penserra Capital Management LLC acquired a new stake in shares of Alcoa in the 1st quarter valued at about $107,000. Investors Research Corp acquired a new stake in shares of Alcoa in the 1st quarter valued at about $124,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Alcoa in the 1st quarter valued at about $235,000.

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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