Alcoa (AA) PT Raised to $68.00 at JPMorgan Chase & Co.

Alcoa (NYSE:AA) had its price objective increased by investment analysts at JPMorgan Chase & Co. to $68.00 in a research note issued to investors on Thursday, January 18th. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 40.32% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Berenberg Bank downgraded shares of Alcoa from a “buy” rating to a “hold” rating and upped their price target for the company from $41.00 to $44.00 in a research note on Friday, September 22nd. Gabelli downgraded shares of Alcoa from a “buy” rating to a “hold” rating and upped their price target for the company from $57.00 to $60.00 in a research note on Wednesday, October 4th. Cowen reaffirmed a “market perform” rating and set a $59.00 price target (up previously from $51.00) on shares of Alcoa in a research note on Thursday, January 18th. Bank of America reaffirmed a “buy” rating and set a $63.00 price target (down previously from $67.00) on shares of Alcoa in a research note on Thursday, January 18th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $65.00 price target on shares of Alcoa in a research note on Friday, December 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $57.72.

Shares of Alcoa (AA) traded down $0.63 during trading hours on Thursday, hitting $48.46. 3,863,806 shares of the company were exchanged, compared to its average volume of 4,829,521. The company has a market capitalization of $9,200.00 and a price-to-earnings ratio of 41.78. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. Alcoa has a 12-month low of $29.55 and a 12-month high of $57.50.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 17th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.19). The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Alcoa had a net margin of 1.86% and a return on equity of 6.90%. Alcoa’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 EPS. equities research analysts anticipate that Alcoa will post 3.64 EPS for the current year.

In other news, COO Tomas Mar Sigurdsson sold 10,000 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $51.37, for a total value of $513,700.00. Following the sale, the chief operating officer now owns 46,832 shares of the company’s stock, valued at $2,405,759.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP William F. Oplinger sold 229,475 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $52.86, for a total transaction of $12,130,048.50. Following the completion of the sale, the vice president now directly owns 108,915 shares in the company, valued at approximately $5,757,246.90. The disclosure for this sale can be found here.

Several institutional investors and hedge funds have recently made changes to their positions in AA. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Alcoa by 0.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,996 shares of the industrial products company’s stock worth $1,175,000 after purchasing an additional 104 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Alcoa by 3.8% in the second quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock worth $189,000 after purchasing an additional 213 shares during the last quarter. Veritable L.P. grew its holdings in shares of Alcoa by 4.0% in the second quarter. Veritable L.P. now owns 7,887 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 300 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Alcoa by 2.5% in the second quarter. Principal Financial Group Inc. now owns 25,679 shares of the industrial products company’s stock worth $838,000 after purchasing an additional 627 shares during the last quarter. Finally, Aperio Group LLC grew its holdings in shares of Alcoa by 2.2% in the third quarter. Aperio Group LLC now owns 48,560 shares of the industrial products company’s stock worth $2,264,000 after purchasing an additional 1,054 shares during the last quarter.

TRADEMARK VIOLATION NOTICE: This news story was originally published by Stock Observer and is the property of of Stock Observer. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.thestockobserver.com/2018/01/22/alcoa-aa-price-target-raised-to-68-00.html.

About Alcoa

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.

Analyst Recommendations for Alcoa (NYSE:AA)

Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply