JPMorgan Chase & Co. Trims Alcoa (AA) Target Price to $52.00

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Alcoa (NYSE:AA) had its price objective cut by JPMorgan Chase & Co. from $60.00 to $52.00 in a report issued on Thursday, The Fly reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other equities analysts have also recently issued reports on AA. ValuEngine upgraded shares of Alcoa from a sell rating to a hold rating in a research report on Thursday, January 10th. Berenberg Bank set a $42.00 price objective on shares of Alcoa and gave the company a buy rating in a research report on Monday, January 14th. Zacks Investment Research upgraded shares of Alcoa from a sell rating to a hold rating in a research report on Tuesday, March 12th. Credit Suisse Group cut shares of Alcoa from an outperform rating to a neutral rating and decreased their price objective for the company from $40.00 to $31.00 in a research report on Tuesday, April 2nd. Finally, BMO Capital Markets set a $45.00 price objective on shares of Alcoa and gave the company a buy rating in a research report on Thursday, December 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $40.08.

Alcoa stock opened at $26.66 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.42 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 4.34 and a beta of 1.13. Alcoa has a twelve month low of $25.01 and a twelve month high of $62.35.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.06). The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.87 billion. Alcoa had a positive return on equity of 6.71% and a negative net margin of 0.94%. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 earnings per share. On average, equities analysts anticipate that Alcoa will post 1.53 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. We Are One Seven LLC purchased a new position in shares of Alcoa during the fourth quarter valued at about $35,000. Financial Architects Inc increased its position in shares of Alcoa by 2,970.3% during the fourth quarter. Financial Architects Inc now owns 3,101 shares of the industrial products company’s stock valued at $82,000 after buying an additional 3,000 shares during the period. IMS Capital Management purchased a new position in shares of Alcoa during the third quarter valued at about $87,000. Cerebellum GP LLC increased its position in shares of Alcoa by 8.1% during the fourth quarter. Cerebellum GP LLC now owns 4,798 shares of the industrial products company’s stock valued at $128,000 after buying an additional 361 shares during the period. Finally, New Jersey Better Educational Savings Trust purchased a new position in shares of Alcoa during the fourth quarter valued at about $239,000.

About Alcoa

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

Further Reading: Systematic Risk and Investors

The Fly

Analyst Recommendations for Alcoa (NYSE:AA)

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