Alcoa (NYSE:AA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Alcoa (NYSE:AA) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $38.00 to $40.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 1.08% from the company’s previous close.

A number of other equities analysts have also weighed in on AA. Morgan Stanley boosted their price objective on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Bank of America boosted their price target on Alcoa to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 28th. UBS Group increased their price objective on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. Finally, Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Alcoa has a consensus rating of “Moderate Buy” and a consensus price target of $46.36.

Alcoa Trading Up 1.7 %

NYSE AA opened at $39.57 on Thursday. Alcoa has a 12 month low of $24.86 and a 12 month high of $47.77. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average price is $40.70 and its 200-day moving average price is $37.79. The stock has a market cap of $10.22 billion, a P/E ratio of -22.49, a P/E/G 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 for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. Alcoa’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned ($1.14) EPS. As a group, equities analysts forecast that Alcoa will post 0.93 EPS for the current fiscal year.

Insider Transactions at Alcoa

In other news, EVP Renato Bacchi sold 23,867 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the transaction, the executive vice president now owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Alcoa

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AA. American Century Companies Inc. boosted its position in shares of Alcoa by 3.4% in the second quarter. American Century Companies Inc. now owns 152,737 shares of the industrial products company’s stock worth $6,076,000 after purchasing an additional 5,011 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Alcoa during the 2nd quarter valued at $635,000. Federated Hermes Inc. boosted its holdings in Alcoa by 389.0% in the 2nd quarter. Federated Hermes Inc. now owns 72,903 shares of the industrial products company’s stock worth $2,900,000 after buying an additional 57,995 shares during the period. Moors & Cabot Inc. increased its stake in Alcoa by 22.7% in the 2nd quarter. Moors & Cabot Inc. now owns 14,487 shares of the industrial products company’s stock worth $576,000 after buying an additional 2,679 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Alcoa by 17.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 27,426 shares of the industrial products company’s stock valued at $1,090,000 after acquiring an additional 4,102 shares during the period.

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.