Alcoa (NYSE:AA) PT Lowered to $52.00

Alcoa (NYSE:AA) had its target price reduced by JPMorgan Chase & Co. from $60.00 to $52.00 in a report released on Thursday, April 18th, The Fly reports. They currently have an overweight rating on the industrial products company’s stock.

Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Alcoa from a sell rating to a strong sell rating in a research report on Thursday, April 11th. Bank of America downgraded shares of Alcoa from a buy rating to a neutral rating and dropped their target price for the stock from $45.00 to $31.00 in a research report on Wednesday, April 3rd. Jefferies Financial Group set a $36.00 target price on shares of Alcoa and gave the stock a buy rating in a research report on Tuesday, April 2nd. Credit Suisse Group downgraded shares of Alcoa from an outperform rating to a neutral rating and dropped their target price for the stock from $40.00 to $31.00 in a research report on Tuesday, April 2nd. Finally, TheStreet downgraded shares of Alcoa from a c- rating to a d+ rating in a research report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $40.00.

Shares of Alcoa stock traded up $0.23 on Thursday, reaching $25.04. The stock had a trading volume of 3,550,959 shares, compared to its average volume of 3,745,811. The company has a quick ratio of 0.85, a current ratio of 1.42 and a debt-to-equity ratio of 0.24. Alcoa has a 1 year low of $23.88 and a 1 year high of $54.51. The company has a market cap of $4.65 billion, a P/E ratio of 6.99, a PEG ratio of 5.37 and a beta of 1.04.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.06). Alcoa had a positive return on equity of 6.71% and a negative net margin of 0.94%. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the firm earned $0.77 EPS. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. As a group, equities research analysts forecast that Alcoa will post 1.15 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in shares of Alcoa by 143.3% in the 1st quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 589 shares during the last quarter. Farmers National Bank purchased a new stake in shares of Alcoa in the 1st quarter valued at $32,000. We Are One Seven LLC purchased a new stake in shares of Alcoa in the 4th quarter valued at $35,000. IMS Capital Management purchased a new stake in shares of Alcoa in the 3rd quarter valued at $87,000. Finally, Financial Architects Inc boosted its holdings in shares of Alcoa by 2,970.3% in the 4th quarter. Financial Architects Inc now owns 3,101 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 3,000 shares during the last quarter.

About Alcoa

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.

Featured Article: What is a short straddle?

The Fly

Analyst Recommendations for Alcoa (NYSE:AA)

Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.