Alcoa (NYSE:AA) PT Lowered to $28.00 at JPMorgan Chase & Co.

Alcoa (NYSE:AA) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $35.00 to $28.00 in a research note issued on Friday, FlyOnTheWall reports. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 7.25% from the stock’s current price.

Other analysts also recently issued reports about the company. Credit Suisse Group reduced their target price on Alcoa from $46.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, July 20th. B. Riley Financial reduced their price objective on Alcoa from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, July 21st. Wolfe Research lowered shares of Alcoa from a “market perform” rating to an “underperform” rating and set a $25.00 target price on the stock. in a research report on Tuesday, July 11th. Bank of America reduced their price target on shares of Alcoa from $53.00 to $52.00 in a research report on Wednesday, June 21st. Finally, Argus downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.09.

Alcoa Trading Up 5.4 %

AA opened at $30.19 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 1.80. Alcoa has a one year low of $27.76 and a one year high of $57.61. The company has a market cap of $5.39 billion, a P/E ratio of -3.70 and a beta of 2.46. The business’s 50-day simple moving average is $31.97 and its 200-day simple moving average is $36.23.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, July 19th. The industrial products company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.24. Alcoa had a negative net margin of 13.37% and a negative return on equity of 4.36%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter last year, the company earned $2.67 earnings per share. The firm’s revenue for the quarter was down 26.3% on a year-over-year basis. As a group, equities research analysts expect that Alcoa will post -1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new stake in Alcoa in the 2nd quarter valued at approximately $27,000. Fairfield Bush & CO. acquired a new stake in shares of Alcoa in the 1st quarter valued at approximately $29,000. Kistler Tiffany Companies LLC purchased a new stake in shares of Alcoa in the second quarter valued at approximately $32,000. Resurgent Financial Advisors LLC acquired a new position in Alcoa during the fourth quarter worth $32,000. Finally, ICA Group Wealth Management LLC purchased a new position in Alcoa in the fourth quarter worth $36,000. 79.55% of the stock is currently owned by institutional investors and hedge funds.

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 three segments: Bauxite, 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.