Alcoa (NYSE:AA) Rating Lowered to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of Alcoa (NYSE:AA) from a buy rating to a hold rating in a research note released on Tuesday morning, PriceTargets.com reports. The brokerage currently has $65.00 price objective on the industrial products company’s stock, up from their prior price objective of $60.00.

AA has been the topic of several other reports. Wolfe Research began coverage on shares of Alcoa in a report on Tuesday, November 16th. They issued an outperform rating and a $63.00 price target on the stock. The Goldman Sachs Group increased their target price on shares of Alcoa from $59.19 to $63.00 and gave the stock a buy rating in a research note on Thursday, November 18th. Jefferies Financial Group raised shares of Alcoa from a hold rating to a buy rating and increased their target price for the stock from $52.00 to $60.00 in a research note on Tuesday, November 2nd. TheStreet raised shares of Alcoa from a c+ rating to a b- rating in a research note on Friday, October 15th. Finally, Zacks Investment Research lowered shares of Alcoa from a strong-buy rating to a hold rating in a research note on Wednesday, November 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $57.92.

Shares of AA stock opened at $61.39 on Tuesday. The company has a market cap of $11.49 billion, a PE ratio of 14.28 and a beta of 2.45. The company has a current ratio of 1.46, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. Alcoa has a 12-month low of $17.30 and a 12-month high of $64.37. The business’s fifty day simple moving average is $52.95 and its 200-day simple moving average is $46.99.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, October 14th. The industrial products company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.25. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.92 billion. Alcoa had a net margin of 7.29% and a return on equity of 16.78%. The business’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.17) earnings per share. On average, equities analysts forecast that Alcoa will post 6.26 earnings per share for the current year.

Alcoa announced that its Board of Directors has initiated a share buyback program on Thursday, October 14th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, CFO William F. Oplinger sold 166,369 shares of the firm’s stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $48.40, for a total transaction of $8,052,259.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Several large investors have recently bought and sold shares of AA. Theleme Partners LLP purchased a new position in shares of Alcoa during the 3rd quarter worth approximately $240,198,000. Bank of New York Mellon Corp boosted its position in shares of Alcoa by 703.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,186,065 shares of the industrial products company’s stock worth $253,806,000 after purchasing an additional 4,540,973 shares during the period. Morgan Stanley boosted its position in Alcoa by 99.1% in the 2nd quarter. Morgan Stanley now owns 5,267,407 shares of the industrial products company’s stock valued at $194,050,000 after buying an additional 2,621,819 shares during the period. Lord Abbett & CO. LLC purchased a new position in Alcoa in the 3rd quarter valued at approximately $78,746,000. Finally, Phoenix Holdings Ltd. purchased a new position in Alcoa in the 3rd quarter valued at approximately $61,799,000.

Alcoa Company Profile

Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.

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Analyst Recommendations for Alcoa (NYSE:AA)

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