JPMorgan Chase & Co. Cuts Alcoa (NYSE:AA) Price Target to $25.00

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

A number of other brokerages have also issued reports on AA. BMO Capital Markets lifted their price target on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Jefferies Financial Group decreased their price target on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley cut their price objective on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. HC Wainwright lifted their target price on Alcoa to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, B. Riley upgraded Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alcoa presently has an average rating of “Moderate Buy” and a consensus target price of $44.75.

Alcoa Stock Down 6.1 %

Shares of AA traded down $1.54 during mid-day trading on Thursday, reaching $23.53. 4,048,715 shares of the stock traded hands, compared to its average volume of 5,438,994. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of -146.35, a P/E/G ratio of 0.19 and a beta of 2.28. The stock has a fifty day simple moving average of $31.61 and a 200 day simple moving average of $37.17. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.42. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Sell-side analysts expect that Alcoa will post 4.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AA. Retirement Systems of Alabama grew its position in Alcoa by 41.6% in the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock valued at $12,107,000 after buying an additional 92,201 shares in the last quarter. HB Wealth Management LLC acquired a new position in shares of Alcoa during the fourth quarter valued at approximately $211,000. Union Bancaire Privee UBP SA acquired a new stake in Alcoa in the fourth quarter worth approximately $454,000. Ausbil Investment Management Ltd acquired a new position in shares of Alcoa during the 4th quarter valued at $429,000. Finally, Fiduciary Alliance LLC acquired a new stake in shares of Alcoa in the fourth quarter valued at $1,147,000. 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.