Argus downgraded shares of Alcoa (NYSE:AA) from a buy rating to a hold rating in a report published on Friday morning, BenzingaRatingsTable reports.
Several other brokerages have also recently weighed in on AA. ValuEngine upgraded shares of Vale from a sell rating to a hold rating in a research note on Tuesday, July 16th. Zacks Investment Research cut shares of General Finance from a buy rating to a hold rating in a research note on Monday, July 15th. Gabelli cut shares of KEYW from a buy rating to a hold rating in a research note on Monday, April 22nd. Macquarie reiterated a neutral rating on shares of Glencore in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. set a €8.75 ($10.17) price target on shares of Commerzbank and gave the stock a buy rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $35.69.
Shares of Alcoa stock opened at $22.98 on Friday. The stock’s fifty day simple moving average is $22.49. The stock has a market cap of $4.29 billion, a PE ratio of 6.42 and a beta of 1.34. Alcoa has a 1-year low of $20.82 and a 1-year high of $45.65. The company has a quick ratio of 0.83, a current ratio of 1.47 and a debt-to-equity ratio of 0.25.
Hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of Alcoa by 143.3% during the 1st quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 589 shares during the period. Farmers National Bank bought a new stake in shares of Alcoa during the 1st quarter valued at $32,000. Penserra Capital Management LLC bought a new stake in shares of Alcoa during the 1st quarter valued at $107,000. Investors Research Corp bought a new stake in shares of Alcoa during the 1st quarter valued at $124,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Alcoa during the 1st quarter valued at $235,000.
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 Article: Stop Order Uses For Individual Investors
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.