Alcoa (NYSE:AA) Price Target Cut to $55.00 by Analysts at JPMorgan Chase & Co.

Alcoa (NYSE:AA) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $70.00 to $55.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 13.48% from the company’s current price.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets upped their price objective on Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Wall Street Zen downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley reissued an “equal weight” rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a report on Wednesday. Bank of America dropped their price target on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a research report on Thursday. Finally, B. Riley Financial cut their price objective on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.91.

Alcoa Stock Performance

Shares of AA stock opened at $48.47 on Thursday. Alcoa has a 52-week low of $28.11 and a 52-week high of $84.38. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36. The stock has a market cap of $12.79 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.67 and a beta of 1.63. The business has a 50-day simple moving average of $63.84 and a 200-day simple moving average of $62.80.

Alcoa (NYSE:AA) last posted its earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the business earned $2.15 earnings per share. On average, equities analysts expect that Alcoa will post 8.48 EPS for the current year.

Institutional Investors Weigh In On Alcoa

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Alcoa by 12.3% during the second quarter. GAMMA Investing LLC now owns 6,206 shares of the industrial products company’s stock worth $324,000 after acquiring an additional 678 shares during the period. Empowered Funds LLC grew its position in shares of Alcoa by 64.6% in the first quarter. Empowered Funds LLC now owns 118,039 shares of the industrial products company’s stock valued at $7,830,000 after purchasing an additional 46,332 shares during the period. Lombard Odier Asset Management Europe Ltd grew its position in shares of Alcoa by 90.9% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 90,258 shares of the industrial products company’s stock valued at $5,987,000 after purchasing an additional 42,979 shares during the period. Parallel Advisors LLC increased its stake in shares of Alcoa by 40.2% during the first quarter. Parallel Advisors LLC now owns 4,677 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 1,340 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Alcoa by 19.7% during the 1st quarter. NewEdge Advisors LLC now owns 8,788 shares of the industrial products company’s stock worth $583,000 after purchasing an additional 1,446 shares during the last quarter.

Trending Headlines about Alcoa

Here are the key news stories impacting Alcoa this week:

• Positive Sentiment: Alcoa is showing up on an oversold-stock screen, with RSI near or below 30, which may attract traders looking for a bounce. Top 3 Materials Stocks That Could Lead To Your Biggest Gains In Q3
• Neutral Sentiment: Alcoa is expected to report earnings soon, keeping investors focused on whether results will confirm or challenge the bearish analyst outlook. Alcoa (AA) Expected to Post Earnings on Thursday
• Negative Sentiment: Zacks added Alcoa to its Rank #5 Strong Sell list, reinforcing bearish sentiment ahead of earnings. New Strong Sell Stocks for July 9th
• Negative Sentiment: Morgan Stanley cut Alcoa to Equal Weight and lowered its price target to $53 from $79, citing a weaker aluminum supply-demand outlook. Morgan Stanley upgrades Ivanhoe Mines, cuts Alcoa and Vale on metals outlook
• Negative Sentiment: B. Riley also lowered its price target on Alcoa to $80, adding to the string of analyst caution around the stock. Alcoa (NYSE:AA) Price Target Lowered to $80.00 at B. Riley Financial

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.