Alcoa (NYSE:AA) Downgraded by Macquarie to “Neutral”

Macquarie downgraded shares of Alcoa (NYSE:AA) from an outperform rating to a neutral rating in a research report report published on Tuesday morning, Benzinga reports. They currently have $25.00 target price on the industrial products company’s stock, down from their previous target price of $34.00.

Other analysts have also recently issued research reports about the stock. Deutsche Bank decreased their target price on shares of from GBX 295 ($3.85) to GBX 285 ($3.72) and set a buy rating on the stock in a research note on Wednesday, June 19th. ValuEngine cut shares of Zogenix from a strong-buy rating to a buy rating in a research note on Thursday, April 11th. Morgan Stanley reissued an equal weight rating and issued a GBX 250 ($3.27) price objective on shares of BT Group in a research note on Tuesday, April 30th. BMO Capital Markets set a $208.00 price objective on shares of Jazz Pharmaceuticals and gave the stock a buy rating in a research note on Wednesday, July 3rd. Finally, Zacks Investment Research raised shares of HAYS PLC/ADR from a sell rating to a hold rating in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $36.69.

NYSE AA opened at $22.60 on Tuesday. The business’s fifty day moving average is $22.33. The company has a market capitalization of $4.17 billion, a PE ratio of 8.72, a PEG ratio of 17.72 and a beta of 1.34. Alcoa has a fifty-two week low of $20.82 and a fifty-two week high of $48.75. The company has a current ratio of 1.47, a quick ratio of 0.83 and a debt-to-equity ratio of 0.25.

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

Hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in Alcoa by 7.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,217 shares of the industrial products company’s stock valued at $457,000 after buying an additional 1,111 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Alcoa in the first quarter valued at $235,000. Investors Research Corp acquired a new position in Alcoa in the first quarter valued at $124,000. Wesleyan Assurance Society acquired a new position in shares of Alcoa during the first quarter valued at about $3,661,000. Finally, Geode Capital Management LLC raised its holdings 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 purchasing an additional 40,522 shares during the period.

About Alcoa

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.

Featured Story: How is diluted EPS different from basic EPS?

Analyst Recommendations for Alcoa (NYSE:AA)

Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.