Alcoa (NYSE:AA) Given New $28.00 Price Target at JPMorgan Chase & Co.

Alcoa (NYSE:AA - Free Report) had its price objective lifted by JPMorgan Chase & Co. from $25.00 to $28.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the industrial products company's stock.

Other equities research analysts also recently issued reports about the company. Barclays upped their price objective on Alcoa to $31.00 and gave the company a "hold" rating in a research report on Friday, May 16th. B. Riley reduced their price target on Alcoa from $44.00 to $43.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Wall Street Zen upgraded Alcoa from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. HC Wainwright increased their price target on Alcoa to $90.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Finally, Bank of America reiterated an "underperform" rating and issued a $26.00 price target (down from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Alcoa currently has a consensus rating of "Hold" and a consensus price target of $42.75.

Alcoa Trading Down 1.7%

AA stock traded down $0.47 during midday trading on Wednesday, reaching $27.88. 7,290,026 shares of the company traded hands, compared to its average volume of 5,594,214. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 1.71. The business has a 50 day moving average of $26.92 and a 200-day moving average of $32.11. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 8.40, a P/E/G ratio of 0.15 and a beta of 2.26.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.42. Alcoa had a return on equity of 18.56% and a net margin of 6.79%. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.58 billion. As a group, sell-side analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.43%. Alcoa's payout ratio is currently 12.05%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AA. Drummond Knight Asset Management Pty Ltd purchased a new position in shares of Alcoa in the 4th quarter valued at $19,646,000. Corient Private Wealth LLC increased its holdings in shares of Alcoa by 4.6% in the 4th quarter. Corient Private Wealth LLC now owns 21,602 shares of the industrial products company's stock valued at $816,000 after acquiring an additional 948 shares during the period. SG Americas Securities LLC increased its holdings in shares of Alcoa by 630.4% in the 1st quarter. SG Americas Securities LLC now owns 28,955 shares of the industrial products company's stock valued at $883,000 after acquiring an additional 24,991 shares during the period. Rhumbline Advisers increased its holdings in shares of Alcoa by 1.6% in the 4th quarter. Rhumbline Advisers now owns 688,784 shares of the industrial products company's stock valued at $26,022,000 after acquiring an additional 11,094 shares during the period. Finally, M&T Bank Corp increased its holdings in shares of Alcoa by 16.6% in the 4th quarter. M&T Bank Corp now owns 26,437 shares of the industrial products company's stock valued at $999,000 after acquiring an additional 3,758 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.