JPMorgan Chase & Co. Lowers Alcoa (NYSE:AA) Price Target to $27.00

Alcoa (NYSE:AA - Get Free Report) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $28.00 to $27.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 13.17% from the stock's current price.

Several other research analysts have also commented on AA. Wall Street Zen lowered Alcoa from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. UBS Group reaffirmed a "neutral" rating and set a $31.00 price objective on shares of Alcoa in a report on Thursday, May 15th. B. Riley dropped their price objective on Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Citigroup raised Alcoa to a "buy" rating and set a $42.00 price objective on the stock in a report on Tuesday, July 8th. Finally, Bank of America raised their price objective on Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $41.23.

Alcoa Stock Performance

Shares of AA stock traded up $0.77 on Thursday, hitting $31.10. The company had a trading volume of 4,684,657 shares, compared to its average volume of 5,711,494. The firm has a market cap of $8.05 billion, a P/E ratio of 8.14, a price-to-earnings-growth ratio of 0.18 and a beta of 2.25. The company has a 50-day moving average price of $28.94 and a 200-day moving average price of $30.78. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. Alcoa has a twelve month low of $21.53 and a twelve month high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.96 billion. Alcoa had a return on equity of 19.27% and a net margin of 7.86%. Alcoa's quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. As a group, equities research analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alcoa

A number of hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. raised its stake in shares of Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock worth $26,000 after buying an additional 296 shares in the last quarter. Continuum Advisory LLC boosted its stake in shares of Alcoa by 30.7% during the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock worth $56,000 after acquiring an additional 345 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Alcoa by 5.8% during the fourth quarter. Captrust Financial Advisors now owns 6,569 shares of the industrial products company's stock valued at $248,000 after acquiring an additional 361 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Alcoa by 6.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,029 shares of the industrial products company's stock valued at $341,000 after acquiring an additional 517 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Alcoa by 134.7% in the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock valued at $28,000 after buying an additional 520 shares during the period.

Alcoa Company Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.