Alcoa (NYSE:AA) Receives New Coverage from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Alcoa (NYSE:AA) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm issued a neutral rating and a $36.00 price target on the industrial products company’s stock.

A number of other analysts have also recently commented on the company. Morgan Stanley dropped their price objective on Alcoa from $50.00 to $48.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Wolfe Research upgraded shares of Alcoa from a peer perform rating to an outperform rating and set a $36.00 price target for the company in a report on Wednesday, September 4th. StockNews.com lowered shares of Alcoa from a hold rating to a sell rating in a research report on Friday, September 20th. B. Riley boosted their price target on Alcoa from $37.00 to $41.00 and gave the company a neutral rating in a report on Tuesday, September 17th. Finally, Bank of America reduced their price target on Alcoa from $46.00 to $43.00 and set a neutral rating on the stock in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Alcoa currently has an average rating of Hold and a consensus price target of $40.82.

Alcoa Stock Down 0.0 %

Alcoa stock opened at $39.27 on Wednesday. Alcoa has a fifty-two week low of $23.07 and a fifty-two week high of $45.48. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of -10.44 and a beta of 2.42. The stock’s fifty day moving average is $32.51 and its two-hundred day moving average is $35.97. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the business posted ($0.35) earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts predict that Alcoa will post 0.56 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were paid a $0.10 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.02%. Alcoa’s payout ratio is currently -10.64%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. acquired a new position in Alcoa during the 2nd quarter worth $27,000. Scarborough Advisors LLC acquired a new position in Alcoa during the 4th quarter valued at about $39,000. Quest Partners LLC bought a new stake in shares of Alcoa during the 4th quarter worth about $40,000. Toronto Dominion Bank lifted its stake in shares of Alcoa by 1,501.9% in the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 1,592 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Alcoa by 15.1% in the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 309 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.

About Alcoa

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.