Alcoa (NYSE:AA) Given New $27.00 Price Target at JPMorgan Chase & Co.

Alcoa (NYSE:AA) had its price target cut by analysts at JPMorgan Chase & Co. from $28.00 to $27.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 10.86% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Wall Street Zen lowered shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Bank of America increased their price target on Alcoa from $26.00 to $27.00 and gave the company an “underperform” rating in a report on Thursday. UBS Group reiterated a “neutral” rating and set a $31.00 price target on shares of Alcoa in a report on Thursday, May 15th. Barclays increased their price target on Alcoa to $31.00 and gave the company a “hold” rating in a report on Friday, May 16th. Finally, B. Riley lowered their price target on Alcoa from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.23.

Alcoa Price Performance

NYSE AA opened at $30.29 on Thursday. The company has a 50 day simple moving average of $28.94 and a 200-day simple moving average of $30.87. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.00. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 7.91, a price-to-earnings-growth ratio of 0.18 and a beta of 2.25. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.96 billion. Alcoa had a net margin of 7.86% and a return on equity of 19.27%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. Equities research analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alcoa

A number of institutional investors have recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new position in shares of Alcoa during the fourth quarter valued at $1,223,000. Raymond James Financial Inc. bought a new position in shares of Alcoa during the fourth quarter valued at $1,639,000. Natixis Advisors LLC lifted its holdings in shares of Alcoa by 27.2% during the fourth quarter. Natixis Advisors LLC now owns 12,808 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 2,742 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Alcoa by 4.6% during the fourth quarter. Corient Private Wealth LLC now owns 21,602 shares of the industrial products company’s stock valued at $816,000 after acquiring an additional 948 shares during the period. Finally, Boston Partners lifted its holdings in shares of Alcoa by 77.4% during the fourth quarter. Boston Partners now owns 500,033 shares of the industrial products company’s stock valued at $18,895,000 after acquiring an additional 218,224 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.