JPMorgan Chase & Co. Has Lowered Expectations for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA - Get Free Report) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $28.00 to $27.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price objective indicates a potential downside of 8.10% from the company's previous close.

Several other brokerages have also weighed in on AA. B. Riley dropped their target price on Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday. Bank of America upped their price target on shares of Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a research report on Thursday. Wall Street Zen lowered shares of Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Barclays upped their target price on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a research report on Friday, May 16th. Finally, UBS Group reaffirmed a "neutral" rating and set a $31.00 price target on shares of Alcoa in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Alcoa currently has an average rating of "Hold" and an average price target of $42.23.

Alcoa Stock Performance

Shares of AA traded up $0.82 during mid-day trading on Thursday, hitting $29.38. The stock had a trading volume of 8,900,136 shares, compared to its average volume of 5,720,179. The company has a quick ratio of 1.00, a current ratio of 1.71 and a debt-to-equity ratio of 0.43. The company has a market cap of $7.61 billion, a PE ratio of 8.87, a PEG ratio of 0.17 and a beta of 2.25. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The company's fifty day simple moving average is $28.78 and its two-hundred day simple moving average is $30.98.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.96 billion. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 earnings per share. On average, equities analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Hedge Funds Weigh In On Alcoa

A number of large investors have recently modified their holdings of AA. Bessemer Group Inc. lifted its position in shares of Alcoa by 77.1% in the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after buying an additional 296 shares during the last quarter. Continuum Advisory LLC lifted its holdings in Alcoa by 30.7% during the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 345 shares during the last quarter. Captrust Financial Advisors boosted its position in Alcoa by 5.8% during the fourth quarter. Captrust Financial Advisors now owns 6,569 shares of the industrial products company's stock worth $248,000 after purchasing an additional 361 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Alcoa by 6.1% in 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 purchasing an additional 517 shares during the last quarter. Finally, Versant Capital Management Inc raised its position 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 purchasing an additional 520 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

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.

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