Alcoa (NYSE:AA) Given New $39.00 Price Target at JPMorgan Chase & Co.

Alcoa (NYSE:AA) had its price objective boosted by JPMorgan Chase & Co. from $36.00 to $39.00 in a report issued on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

AA has been the subject of a number of other reports. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a report on Tuesday, September 17th. B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the company from $41.00 to $50.00 in a research note on Thursday. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Wednesday, September 4th. StockNews.com downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, UBS Group increased their price objective on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.36.

Alcoa Trading Down 4.1 %

AA opened at $40.33 on Thursday. The stock has a market capitalization of $7.24 billion, a PE ratio of -10.73 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. Alcoa has a 12-month low of $23.07 and a 12-month high of $45.48. The firm’s fifty day moving average price is $34.74 and its 200 day moving average price is $36.74.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.23 by $0.34. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted ($1.14) earnings per share. As a group, research analysts expect that Alcoa will post 0.29 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.99%. Alcoa’s dividend payout ratio is presently -10.64%.

Institutional Trading of Alcoa

Several large investors have recently added to or reduced their stakes in AA. Los Angeles Capital Management LLC acquired a new position in shares of Alcoa during the first quarter valued at $210,000. Banque Cantonale Vaudoise increased its stake in Alcoa by 24.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,044 shares of the industrial products company’s stock valued at $137,000 after buying an additional 800 shares during the period. Douglas Lane & Associates LLC increased its stake in Alcoa by 12.9% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,351,720 shares of the industrial products company’s stock valued at $45,675,000 after buying an additional 154,403 shares during the period. Ballentine Partners LLC bought a new stake in shares of Alcoa during the 1st quarter worth about $252,000. Finally, ARGA Investment Management LP lifted its stake in shares of Alcoa by 202.2% in the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after acquiring an additional 997,912 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

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.