Vetr downgraded shares of Alcoa Inc. (NYSE:AA) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday morning. The firm currently has $26.55 target price on the stock.

A number of other research analysts have also weighed in on the stock. Morgan Stanley began coverage on shares of Alcoa in a research report on Monday, November 7th. They set an overweight rating and a $27.00 price target on the stock. Citigroup Inc. began coverage on shares of Alcoa in a research report on Monday, November 7th. They set a buy rating and a $30.00 price target on the stock. Cowen and Company began coverage on shares of Alcoa in a research report on Monday, November 7th. They set a market perform rating and a $29.00 price target on the stock. Goldman Sachs Group Inc. began coverage on shares of Alcoa in a research report on Wednesday, November 2nd. They set a sell rating and a $15.00 price target on the stock. Finally, BMO Capital Markets began coverage on shares of Alcoa in a research report on Wednesday, November 2nd. They set a market perform rating on the stock. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. Alcoa has an average rating of Hold and a consensus price target of $19.89.

Alcoa (NYSE:AA) opened at 31.85 on Tuesday. The firm’s market cap is $13.97 billion. The firm’s 50 day moving average is $24.59 and its 200-day moving average is $24.59. Alcoa has a 12 month low of $20.00 and a 12 month high of $32.02.

Alcoa (NYSE:AA) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.21 billion for the quarter. During the same period in the previous year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, equities analysts forecast that Alcoa will post ($0.66) EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s dividend payout ratio (DPR) is -63.15%.

A number of hedge funds have recently made changes to their positions in AA. Ardsley Advisory Partners purchased a new stake in shares of Alcoa during the third quarter valued at approximately $101,000. AXA purchased a new stake in shares of Alcoa during the first quarter valued at approximately $115,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of Alcoa during the second quarter valued at approximately $121,000. Savant Capital LLC increased its stake in shares of Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock valued at $122,000 after buying an additional 2,360 shares during the period. Finally, TRUE Private Wealth Advisors increased its stake in shares of Alcoa by 18.3% in the second quarter. TRUE Private Wealth Advisors now owns 13,603 shares of the company’s stock valued at $126,000 after buying an additional 2,103 shares during the period.

Alcoa Company Profile

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.

5 Day Chart for NYSE:AA

To view Vetr’s full report, visit Vetr’s official website.

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