Alcoa (NYSE:AA) had its price target upped by analysts at JPMorgan Chase & Co. to $79.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 115.26% from the stock’s current price.
Several other equities analysts have also weighed in on AA. Berenberg Bank assumed coverage on shares of Alcoa in a report on Friday, September 21st. They set a “buy” rating and a $54.00 price objective on the stock. B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and upped their price objective for the company from $48.00 to $50.00 in a report on Wednesday, September 12th. Deutsche Bank dropped their price objective on shares of Alcoa from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, July 24th. Morgan Stanley dropped their price objective on shares of Alcoa from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, July 23rd. Finally, ValuEngine upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. Alcoa presently has a consensus rating of “Buy” and an average target price of $61.67.
AA stock opened at $36.70 on Thursday. The firm has a market capitalization of $7.53 billion, a P/E ratio of 12.19, a PEG ratio of 2.11 and a beta of -0.08. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. Alcoa has a 12-month low of $35.13 and a 12-month high of $62.35.
Alcoa (NYSE:AA) last released its earnings results on Wednesday, October 17th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.27. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a net margin of 1.11% and a return on equity of 10.30%. Alcoa’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. Equities analysts anticipate that Alcoa will post 4.22 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the company. Aperio Group LLC grew its position in Alcoa by 4.9% in the 3rd quarter. Aperio Group LLC now owns 57,688 shares of the industrial products company’s stock worth $2,331,000 after purchasing an additional 2,690 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in Alcoa in the 3rd quarter worth about $961,000. Nikko Asset Management Americas Inc. grew its position in Alcoa by 30.6% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 82,068 shares of the industrial products company’s stock worth $3,325,000 after purchasing an additional 19,213 shares in the last quarter. Supplemental Annuity Collective Trust of NJ bought a new stake in Alcoa in the 3rd quarter worth about $404,000. Finally, Bank of Montreal Can grew its position in Alcoa by 18.2% in the 3rd quarter. Bank of Montreal Can now owns 533,116 shares of the industrial products company’s stock worth $21,537,000 after purchasing an additional 81,928 shares in the last quarter.
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.
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