Alcoa (NYSE:AA) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $68.00 to $71.00 in a report issued on Monday, February 5th, MarketBeat reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.’s target price points to a potential upside of 52.20% from the stock’s previous close.
A number of other research analysts also recently issued reports on AA. Macquarie reissued a “buy” rating and set a $62.00 price objective (up from $55.00) on shares of Alcoa in a research report on Tuesday, October 10th. Cowen set a $51.00 price objective on shares of Alcoa and gave the company a “hold” rating in a research report on Wednesday, October 11th. Berenberg Bank set a $44.00 price objective on shares of Alcoa and gave the company a “hold” rating in a research report on Wednesday, October 18th. Citigroup reissued a “buy” rating and set a $55.00 price objective (up from $53.00) on shares of Alcoa in a research report on Friday, October 20th. Finally, BMO Capital Markets reissued a “buy” rating and set a $60.00 price objective on shares of Alcoa in a research report on Wednesday, November 15th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $57.72.
Shares of Alcoa (NYSE:AA) opened at $46.65 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. The company has a market cap of $8,630.00 and a price-to-earnings ratio of 40.22. Alcoa has a 1-year low of $29.55 and a 1-year high of $57.50.
Alcoa (NYSE:AA) last issued its quarterly earnings data 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 company 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%. The firm’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 firm posted $0.14 earnings per share. equities analysts anticipate that Alcoa will post 3.69 earnings per share for the current fiscal year.
In related news, COO Tomas Mar Sigurdsson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $51.37, for a total value of $513,700.00. Following the transaction, the chief operating officer now owns 46,832 shares in the company, valued at approximately $2,405,759.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP William F. Oplinger sold 229,475 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $52.86, for a total transaction of $12,130,048.50. Following the completion of the transaction, the vice president now owns 108,915 shares in the company, valued at approximately $5,757,246.90. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. bought a new position in Alcoa during the 4th quarter valued at about $103,000. Cerebellum GP LLC bought a new position in Alcoa during the 4th quarter valued at about $127,000. Barrett Asset Management LLC bought a new position in Alcoa during the 4th quarter valued at about $129,000. Huntington National Bank bought a new position in Alcoa during the 3rd quarter valued at about $112,000. Finally, Fruth Investment Management bought a new position in Alcoa during the 4th quarter valued at about $200,000.
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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.
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