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Alcoa (NYSE:AA) has been downgraded from Buy to Neutral in a statement by BofA Merrill earlier today.

Boasting a price of $27.91, Alcoa (NYSE:AA) traded -11.42% lower on the day. With the last stock price close down -6.53% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the same time. The company has recorded a 50-day moving average of $29.93 and a 200-day moving average of $29.86. 32,660,329 shares of the stock were exchanged, up from an average trading volume of 6,007,980

BofA Merrill has downgraded Alcoa (NYSE:AA) from Buy to Neutral in a statement released on Wednesday October 12, 2016.

See Chart Below

Alcoa (NYSE:AA)

Alcoa has a 52 week low of $18.42 and a 52 week high of $34.50 The company’s market cap is currently $0.

In addition to BofA Merrill reporting its target price, a total of 14 firms have reported on the stock. The consensus target price is $10.89 with 3 firms rating the stock a strong buy, 6 firms rating the stock a buy, 8 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 1 firm rating the stock a sell.

About Alcoa (NYSE:AA)

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. It is also engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined, through its participation in various aspects of the industry, including technology, mining, refining, smelting, fabricating and recycling. It has operations in approximately 30 countries. The Company has investments and operating activities in Australia, Brazil, China, Guinea, Iceland and Saudi Arabia, among others. It also refines alumina from bauxite ore.

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