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

Alcoa (NYSE:AA) had its price target upped by JPMorgan Chase & Co. from $25.00 to $28.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

AA has been the topic of several other reports. B. Riley lowered their price target on shares of Alcoa from $44.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M HC Wainwright raised their target price on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Barclays lifted their price objective on shares of Alcoa to $31.00 and gave the company a “hold” rating in a research note on Friday, May 16th. UBS Group reissued a “neutral” rating and issued a $31.00 price objective on shares of Alcoa in a research note on Thursday, May 15th. Finally, Bank of America reissued an “underperform” rating and issued a $26.00 price objective (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $42.75.

Alcoa Trading Down 1.3%

Shares of NYSE:AA opened at $28.35 on Wednesday. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The company has a market capitalization of $7.34 billion, a P/E ratio of 8.54, a price-to-earnings-growth ratio of 0.16 and a beta of 2.26. The company has a 50-day simple moving average of $26.77 and a 200 day simple moving average of $32.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 1.71.

Alcoa (NYSE:AA) last released its quarterly 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 firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. Sell-side analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.41%. Alcoa’s dividend payout ratio (DPR) is presently 12.05%.

Hedge Funds Weigh In On Alcoa

A number of hedge funds have recently bought and sold shares of AA. Empowered Funds LLC bought a new position in Alcoa during the fourth quarter worth $259,000. Vontobel Holding Ltd. increased its stake in Alcoa by 50.6% in the fourth quarter. Vontobel Holding Ltd. now owns 17,821 shares of the industrial products company’s stock valued at $673,000 after purchasing an additional 5,985 shares in the last quarter. Rhumbline Advisers increased its stake in Alcoa by 1.6% in the fourth quarter. Rhumbline Advisers now owns 688,784 shares of the industrial products company’s stock valued at $26,022,000 after purchasing an additional 11,094 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Alcoa by 13.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 95,587 shares of the industrial products company’s stock valued at $3,611,000 after purchasing an additional 11,128 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Alcoa in the fourth quarter valued at $205,000.

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.