JPMorgan Chase & Co. Reaffirms Underweight Rating for Alcoa (NYSE:AA)

Alcoa (NYSE:AA)‘s stock had its “underweight” rating restated by stock analysts at JPMorgan Chase & Co. in a report released on Thursday,Benzinga reports. They currently have a $50.00 target price on the industrial products company’s stock, up from their previous target price of $45.00. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 20.29% from the company’s current price.

Other equities analysts have also issued research reports about the company. UBS Group lifted their price objective on Alcoa from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Argus set a $45.00 price target on Alcoa in a research report on Thursday, October 30th. Morgan Stanley reissued an “overweight” rating and issued a $52.00 price target on shares of Alcoa in a report on Monday, December 15th. Zacks Research raised shares of Alcoa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 25th. Finally, HSBC lifted their target price on shares of Alcoa from $33.00 to $41.00 and gave the company a “buy” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $47.75.

Alcoa Price Performance

Shares of NYSE:AA opened at $62.73 on Thursday. Alcoa has a twelve month low of $21.53 and a twelve month high of $65.01. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40. The company has a market cap of $16.24 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 0.25 and a beta of 1.95. The company’s 50 day moving average is $44.77 and its 200 day moving average is $36.63.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.13. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, sell-side analysts forecast that Alcoa will post 4.43 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AA. Quadrant Capital Group LLC lifted its position in Alcoa by 1.5% during the third quarter. Quadrant Capital Group LLC now owns 22,497 shares of the industrial products company’s stock worth $740,000 after buying an additional 324 shares in the last quarter. Twin Capital Management Inc. grew its stake in shares of Alcoa by 1.8% in the second quarter. Twin Capital Management Inc. now owns 19,137 shares of the industrial products company’s stock valued at $565,000 after buying an additional 344 shares in the last quarter. Lesa Sroufe & Co grew its position in Alcoa by 0.5% in the 3rd quarter. Lesa Sroufe & Co now owns 75,504 shares of the industrial products company’s stock valued at $2,483,000 after acquiring an additional 349 shares in the last quarter. CWM LLC increased its stake in Alcoa by 1.9% during the 2nd quarter. CWM LLC now owns 18,628 shares of the industrial products company’s stock worth $550,000 after buying an additional 354 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Alcoa by 3.2% during the third quarter. Nisa Investment Advisors LLC now owns 11,581 shares of the industrial products company’s stock worth $381,000 after acquiring an additional 362 shares during the period.

About Alcoa

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.