JPMorgan Chase & Co. Has Lowered Expectations for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its price target lowered by analysts at JPMorgan Chase & Co. from $40.00 to $28.00 in a note issued to 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 upside of 20.20% from the stock’s previous close.

Several other equities analysts have also commented on the company. Bank of America reissued an “underperform” rating and set a $26.00 price target (down from $58.00) on shares of Alcoa in a research report on Tuesday. B. Riley raised Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Morgan Stanley cut their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. HC Wainwright upped their target price on Alcoa to $90.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Finally, BMO Capital Markets upped their target price on Alcoa to $43.00 and gave the company a “hold” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.25.

Alcoa Trading Down 9.9 %

AA traded down $2.57 during midday trading on Thursday, hitting $23.30. The company’s stock had a trading volume of 2,821,420 shares, compared to its average volume of 5,418,104. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The firm has a market cap of $6.03 billion, a P/E ratio of -145.87, a PEG ratio of 0.19 and a beta of 2.28. The firm has a 50-day moving average price of $32.71 and a two-hundred day moving average price of $37.62. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, research analysts anticipate that Alcoa will post 4.43 earnings per share for the current year.

Institutional Investors Weigh In On Alcoa

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ballentine Partners LLC raised its holdings in Alcoa by 3.2% during the 4th quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock worth $339,000 after buying an additional 279 shares during the period. Bessemer Group Inc. lifted its holdings in Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 296 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Alcoa by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company’s stock worth $1,988,000 after buying an additional 300 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Alcoa by 5.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company’s stock worth $246,000 after buying an additional 328 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Alcoa by 3.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock valued at $365,000 after purchasing an additional 339 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.

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.