Economy

Vetr Inc. Downgrades Alcoa Corp (AA) to Hold

Vetr Inc. Downgrades Alcoa Corp (AA) to Hold

Citigroup reiterated a "buy" rating and issued a $53.00 target price on shares of Alcoa in a report on Friday, September 29th. RBC Capital Markets maintained the shares of AA in report on Wednesday, October 12 with "Sector Perform" rating. Finally, Morgan Stanley reiterated an overweight rating and set a $47.00 target price on shares of Alcoa in a research report on Wednesday, September 20th. They issued a "sell" rating and a $26.00 price target on the stock.

Alcoa Corp (NYSE:AA) opened at 30.68 on Thursday. The firm's market capitalization is $5.61 billion. Alcoa has a 12-month low of $29.55 and a 12-month high of $57.50. For the most recent quarter, quick ratio was 0.9, current ratio was 1.4, LT Debt/Equity ratio was 0.24 and Total Debt/Equity ratio stands at 0.24, while Payout ratio is 0.

Alcoa said it recorded a charge of $22 million in the fourth quarter as it adjusted its deferred income tax positions in response to the tax reforms Congress passes. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.

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Revenue was better by 25% compared to the year-ago quarter at$3.17 billion, but still failed to reach the Wall Street projection of $3.29 billion.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 41.9%, and has a solid year to date (YTD) performance of 5.79% which means that the stock is constantly adding to its value from the previous fiscal year end price. During the same quarter last year, the firm earned $0.14 earnings per share. analysts anticipate that Alcoa will post 3.19 earnings per share for the current year. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The fund owned 311,820 shares of the industrial products company's stock after buying an additional 2,521 shares during the quarter. (AA) escalated 1.33% and closed its last trading session at $56.99. Retirement Systems of Alabama increased its stake in Alcoa Corp by 41.6% in the second quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company's stock worth $189,000 after purchasing an additional 213 shares during the last quarter. Vanguard Group Inc. increased its stake in Alcoa by 14.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,996 shares of the industrial products company's stock worth $1,175,000 after purchasing an additional 104 shares during the last quarter. Finally, Cipher Capital LP bought a new stake in Alcoa in the third quarter valued at approximately $646,000.

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