JPMorgan Chase & Co. Boosts Alcoa (NYSE:AA) Price Target to $39.00

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

A number of other brokerages have also commented on AA. UBS Group raised their target price on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. StockNews.com lowered shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Morgan Stanley reduced their target price on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and raised their target price for the stock from $41.00 to $50.00 in a research report on Thursday. Finally, B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.45.

Alcoa Stock Up 3.4 %

Shares of NYSE AA opened at $41.71 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The company has a market cap of $7.49 billion, a P/E ratio of -11.09 and a beta of 2.42. Alcoa has a 1 year low of $23.07 and a 1 year high of $45.48. The firm has a 50-day simple moving average of $34.96 and a two-hundred day simple moving average of $36.80.

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

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 0.96%. Alcoa’s dividend payout ratio (DPR) is -10.64%.

Institutional Investors Weigh In On Alcoa

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in shares of Alcoa by 12.0% during the third quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company’s stock worth $128,000 after buying an additional 344 shares during the period. Trust Point Inc. lifted its stake in shares of Alcoa by 23.7% during the third quarter. Trust Point Inc. now owns 6,884 shares of the industrial products company’s stock worth $266,000 after buying an additional 1,317 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Alcoa by 70.9% during the third quarter. Vontobel Holding Ltd. now owns 11,836 shares of the industrial products company’s stock worth $457,000 after buying an additional 4,909 shares during the period. Creative Planning lifted its stake in shares of Alcoa by 33.4% during the third quarter. Creative Planning now owns 31,817 shares of the industrial products company’s stock worth $1,227,000 after buying an additional 7,964 shares during the period. Finally, Douglas Lane & Associates LLC lifted its stake in shares of Alcoa by 2.0% during the third quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock worth $54,859,000 after buying an additional 27,217 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.