Alcoa (NYSE:AA) Given New $25.00 Price Target at JPMorgan Chase & Co.

Alcoa (NYSE:AA) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $28.00 to $25.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 6.24% from the company’s current price.

Other analysts have also issued research reports about the company. BMO Capital Markets upped their price objective on Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. HC Wainwright boosted their target price on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. UBS Group cut their price target on Alcoa from $47.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday. Bank of America restated an “underperform” rating and set a $26.00 target price (down previously from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. Finally, B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.75.

Alcoa Price Performance

AA traded down $1.54 during midday trading on Thursday, hitting $23.53. 4,048,715 shares of the company traded hands, compared to its average volume of 5,438,994. The business has a 50 day simple moving average of $31.61 and a two-hundred day simple moving average of $37.17. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of -146.35, a PEG ratio of 0.19 and a beta of 2.28. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.42. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. On average, equities analysts forecast that Alcoa will post 4.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alcoa

Hedge funds have recently added to or reduced their stakes in the business. MML Investors Services LLC purchased a new position in shares of Alcoa during the 3rd quarter worth approximately $308,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Alcoa in the third quarter worth $239,000. Synovus Financial Corp purchased a new stake in shares of Alcoa in the third quarter valued at $456,000. Retirement Systems of Alabama increased its position in Alcoa by 41.6% during the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock worth $12,107,000 after purchasing an additional 92,201 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its holdings in Alcoa by 7.2% in the 4th quarter. Confluence Investment Management LLC now owns 13,999 shares of the industrial products company’s stock valued at $529,000 after purchasing an additional 936 shares in the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

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.