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

Alcoa (NYSE:AA) had its price target increased by JPMorgan Chase & Co. from $38.00 to $40.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other equities research analysts have also recently commented on AA. Morgan Stanley increased their price objective on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and raised their price target for the stock from $41.00 to $50.00 in a research note on Thursday, October 17th. BMO Capital Markets increased their price objective on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research note on Thursday, October 17th. Jefferies Financial Group cut their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Alcoa has an average rating of “Moderate Buy” and an average target price of $46.55.

Alcoa Stock Up 2.0 %

Shares of Alcoa stock opened at $38.96 on Thursday. The company has a 50-day simple moving average of $40.81 and a two-hundred day simple moving average of $37.79. Alcoa has a 52-week low of $24.86 and a 52-week high of $47.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The stock has a market capitalization of $10.07 billion, a PE ratio of -22.14, a price-to-earnings-growth ratio of 0.16 and a beta of 2.47.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.34. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.14) EPS. On average, analysts anticipate that Alcoa will post 0.93 EPS for the current fiscal year.

Insider Activity

In related news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the sale, the executive vice president now owns 57,317 shares in the company, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. purchased a new position in shares of Alcoa in the second quarter worth $27,000. UMB Bank n.a. lifted its stake in Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 631 shares in the last quarter. Quarry LP bought a new position in shares of Alcoa during the 3rd quarter valued at about $43,000. Continuum Advisory LLC boosted its holdings in shares of Alcoa by 1,945.5% during the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,070 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Alcoa by 399.0% in the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 1,157 shares during the last quarter.

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.