Alcoa (NYSE:AA) Given New $28.00 Price Target at JPMorgan Chase & Co.

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

Several other research analysts have also recently commented on the company. Barclays raised their target price on Alcoa to $31.00 and gave the stock a “hold” rating in a research report on Friday, May 16th. HC Wainwright lifted their price objective on Alcoa to $90.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. B. Riley lowered their price target on Alcoa from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Finally, Bank of America reissued an “underperform” rating and set a $26.00 target price (down from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Alcoa has an average rating of “Hold” and a consensus price target of $42.75.

Alcoa Stock Down 1.7%

Alcoa stock opened at $27.88 on Wednesday. The company has a 50-day simple moving average of $26.92 and a 200-day simple moving average of $32.21. The firm has a market capitalization of $7.22 billion, a P/E ratio of 8.40, a P/E/G ratio of 0.16 and a beta of 2.26. 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 has a one year low of $21.53 and a one year high of $47.77.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.42. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. As a group, equities analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were paid a $0.10 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.43%. Alcoa’s payout ratio is presently 12.05%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Empowered Funds LLC bought a new stake in Alcoa in the fourth quarter worth about $259,000. Vontobel Holding Ltd. lifted its stake in shares of Alcoa by 50.6% during the fourth quarter. Vontobel Holding Ltd. now owns 17,821 shares of the industrial products company’s stock worth $673,000 after buying an additional 5,985 shares during the period. Rhumbline Advisers lifted its stake in shares of Alcoa by 1.6% during the fourth quarter. Rhumbline Advisers now owns 688,784 shares of the industrial products company’s stock worth $26,022,000 after buying an additional 11,094 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of Alcoa by 13.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 95,587 shares of the industrial products company’s stock worth $3,611,000 after buying an additional 11,128 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in Alcoa during the fourth quarter valued at $205,000.

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.