Alcoa Inc. (AA) Cut to Strong Sell at Vetr Inc.
Vetr lowered shares of Alcoa Inc. (NYSE:AA) from a sell rating to a strong sell rating in a report issued on Thursday. They currently have $27.98 price objective on the stock.
A number of other analysts have also recently issued reports on the stock. Goldman Sachs Group Inc. set a $30.00 price objective on shares of Alcoa and gave the stock a hold rating in a research note on Monday, October 10th. Credit Suisse Group AG set a $39.00 price objective on shares of Alcoa and gave the stock a buy rating in a research note on Saturday, October 8th. Macquarie initiated coverage on shares of Alcoa in a research note on Tuesday, November 1st. They issued a neutral rating and a $21.00 price objective for the company. Gabelli initiated coverage on shares of Alcoa in a research note on Tuesday, November 1st. They issued a buy rating for the company. Finally, Zacks Investment Research raised shares of Alcoa from a sell rating to a hold rating in a research note on Monday, October 31st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. Alcoa presently has a consensus rating of Hold and a consensus price target of $19.95.
Shares of Alcoa (NYSE:AA) opened at 29.73 on Thursday. The firm has a 50-day moving average of $26.18 and a 200 day moving average of $26.18. Alcoa has a 1-year low of $20.00 and a 1-year high of $32.19.
Alcoa (NYSE:AA) last announced its earnings results on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.21. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The business earned $5.21 billion during the quarter. During the same period in the prior year, the company posted $0.07 earnings per share. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. On average, analysts anticipate that Alcoa will post ($0.62) EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Friday, November 4th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.40%. The ex-dividend date was Wednesday, November 2nd. Alcoa’s dividend payout ratio is presently -63.15%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Ardsley Advisory Partners bought a new position in Alcoa during the third quarter valued at approximately $101,000. AXA acquired a new position in Alcoa during the first quarter worth approximately $115,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Alcoa during the second quarter worth approximately $121,000. Savant Capital LLC increased its position in Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock worth $122,000 after buying an additional 2,360 shares during the period. Finally, TRUE Private Wealth Advisors increased its position in Alcoa by 18.3% in the second quarter. TRUE Private Wealth Advisors now owns 13,603 shares of the company’s stock worth $126,000 after buying an additional 2,103 shares during the period.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
To view Vetr’s full report, visit Vetr’s official website.
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