Alcoa (NYSE:AA) Price Target Raised to $40.00 at JPMorgan Chase & Co.

Alcoa (NYSE:AA) had its target price increased by analysts at JPMorgan Chase & Co. from $38.00 to $40.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 4.74% from the stock’s current price.

A number of other research firms also recently commented on AA. BMO Capital Markets raised their target price on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Thursday, October 17th. UBS Group raised their target price on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group cut their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley raised their target price on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.55.

Alcoa Trading Up 3.6 %

AA stock opened at $38.19 on Thursday. The company has a market capitalization of $9.87 billion, a PE ratio of -21.70, a P/E/G ratio of 0.79 and a beta of 2.47. Alcoa has a 12 month low of $24.86 and a 12 month high of $47.77. The firm’s 50-day moving average is $40.94 and its 200 day moving average is $37.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.14) EPS. On average, research analysts anticipate that Alcoa will post 0.9 EPS for the current year.

Insider Buying and Selling

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the sale, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.08% of the stock is owned by company insiders.

Institutional Trading of Alcoa

Several institutional investors and hedge funds have recently bought and sold shares of AA. Mountaineer Partners Management LLC lifted its stake in Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after acquiring an additional 10,534,036 shares during the period. State Street Corp increased its holdings in shares of Alcoa by 23.3% during the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after purchasing an additional 1,805,915 shares in the last quarter. Paloma Partners Management Co increased its holdings in shares of Alcoa by 11,317.8% during the 3rd quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock valued at $55,084,000 after purchasing an additional 1,415,294 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Alcoa by 770.9% during the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock valued at $56,599,000 after purchasing an additional 1,259,430 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Alcoa by 42.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after purchasing an additional 1,239,479 shares in the last quarter. 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.