Alcoa (NYSE:AA) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $44.00 to $26.00 in a research note issued on Thursday, BenzingaRatingsTable 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 38.81% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Argus downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. B. Riley decreased their target price on shares of Alcoa from $34.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, September 26th. Credit Suisse Group upgraded shares of Alcoa from a “neutral” rating to an “outperform” rating and upped their target price for the company from $26.00 to $27.00 in a research note on Wednesday, September 11th. Bank of America restated a “neutral” rating and issued a $20.00 target price (down from $25.00) on shares of Alcoa in a research note on Friday, August 16th. Finally, ValuEngine upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Alcoa has an average rating of “Buy” and a consensus price target of $28.33.

Shares of Alcoa stock traded up $0.32 during trading hours on Thursday, hitting $18.73. The company’s stock had a trading volume of 28,871 shares, compared to its average volume of 3,604,295. Alcoa has a 1-year low of $16.46 and a 1-year high of $40.68. The business has a fifty day moving average of $19.70 and a 200 day moving average of $22.88. The company has a market capitalization of $3.42 billion, a PE ratio of 5.23 and a beta of 1.47. The company has a quick ratio of 0.81, a current ratio of 1.51 and a debt-to-equity ratio of 0.26.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, July 17th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.33. Alcoa had a negative net margin of 4.92% and a positive return on equity of 2.78%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. The business’s quarterly revenue was down 24.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Alcoa will post -0.41 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of Alcoa during the second quarter worth $25,000. TRUE Private Wealth Advisors acquired a new stake in shares of Alcoa during the second quarter worth $30,000. Quantamental Technologies LLC acquired a new stake in shares of Alcoa during the second quarter worth $74,000. Van ECK Associates Corp raised its holdings in shares of Alcoa by 24.8% during the second quarter. Van ECK Associates Corp now owns 4,538 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 901 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in shares of Alcoa by 58.6% during the second quarter. Macquarie Group Ltd. now owns 4,965 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 1,835 shares during the period.

Alcoa Company Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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Analyst Recommendations for Alcoa (NYSE:AA)

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