JPMorgan Chase & Co. Issues Positive Forecast for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA - Get Free Report) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $25.00 to $28.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price target suggests a potential downside of 2.62% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Bank of America restated an "underperform" rating and set a $26.00 price target (down previously from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. HC Wainwright raised their target price on shares of Alcoa to $90.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. UBS Group restated a "neutral" rating and issued a $31.00 price target on shares of Alcoa in a research report on Thursday, May 15th. Barclays upped their price target on shares of Alcoa to $31.00 and gave the company a "hold" rating in a research note on Friday, May 16th. Finally, Wall Street Zen raised shares of Alcoa from a "hold" rating to a "buy" rating in a research note on Saturday. 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $42.75.

Alcoa Trading Down 0.9%

AA stock opened at $28.75 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.71 and a quick ratio of 1.00. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77. The business has a 50 day simple moving average of $26.72 and a two-hundred day simple moving average of $32.48. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.16 and a beta of 2.26.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.42. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Research analysts anticipate that Alcoa will post 4.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AA. Bessemer Group Inc. boosted its holdings in Alcoa by 77.1% during the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 296 shares during the period. Versant Capital Management Inc boosted its stake in shares of Alcoa by 134.7% during 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. SBI Securities Co. Ltd. bought a new position in shares of Alcoa in the fourth quarter worth about $29,000. Point72 Hong Kong Ltd bought a new position in shares of Alcoa in the fourth quarter worth about $36,000. Finally, Smartleaf Asset Management LLC increased its stake in Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after buying an additional 393 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.

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