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

Alcoa (NYSE:AA) had its target price reduced by analysts at JPMorgan Chase & Co. from $40.00 to $28.00 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 upside of 13.06% from the stock’s current price.

AA has been the subject of several other research reports. UBS Group lowered their target price on shares of Alcoa from $53.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, March 27th. BMO Capital Markets raised their price objective on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. HC Wainwright upped their target price on Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Jefferies Financial Group reduced their price target on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Morgan Stanley dropped their price objective on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Alcoa has an average rating of “Moderate Buy” and a consensus target price of $46.25.

Alcoa Stock Performance

NYSE:AA opened at $24.77 on Thursday. The company has a market cap of $6.41 billion, a price-to-earnings ratio of -154.78, a PEG ratio of 0.19 and a beta of 2.28. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77. The stock’s 50 day simple moving average is $32.27 and its two-hundred day simple moving average is $37.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, equities analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alcoa

Institutional investors have recently added to or reduced their stakes in the business. Bourgeon Capital Management LLC purchased a new position in shares of Alcoa in the first quarter worth $5,720,000. Merit Financial Group LLC purchased a new position in Alcoa in the 1st quarter worth $217,000. Douglas Lane & Associates LLC lifted its position in Alcoa by 1.0% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,401,884 shares of the industrial products company’s stock worth $42,757,000 after acquiring an additional 13,194 shares during the period. Rhumbline Advisers grew its stake in Alcoa by 1.3% during the 1st quarter. Rhumbline Advisers now owns 697,655 shares of the industrial products company’s stock valued at $21,278,000 after purchasing an additional 8,871 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Alcoa by 4,743.7% in the first quarter. GAMMA Investing LLC now owns 70,089 shares of the industrial products company’s stock valued at $2,298,000 after purchasing an additional 68,642 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

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.