Alcoa (NYSE:AA) Price Target Raised to $45.00

Alcoa (NYSE:AA) had its price objective hoisted by JPMorgan Chase & Co. from $35.00 to $45.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 0.63% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Morgan Stanley set a $43.50 price objective on shares of Alcoa in a report on Friday, October 24th. Zacks Research raised Alcoa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a research note on Monday. HSBC raised their price objective on Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, Wells Fargo & Company started coverage on Alcoa in a report on Tuesday, October 7th. They set an “overweight” rating and a $40.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.12.

Alcoa Stock Performance

Shares of Alcoa stock traded up $0.71 during midday trading on Friday, hitting $44.72. The company had a trading volume of 877,020 shares, compared to its average volume of 6,141,206. The company has a fifty day simple moving average of $37.51 and a 200 day simple moving average of $32.69. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.23 and a beta of 1.99. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.40. Alcoa has a 12-month low of $21.53 and a 12-month high of $44.96.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.13. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the firm earned $0.57 EPS. Alcoa’s revenue was up 3.1% compared to the same quarter last year. As a group, analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new stake in shares of Alcoa during the third quarter worth $27,000. Root Financial Partners LLC purchased a new position in Alcoa in the third quarter valued at about $29,000. IFP Advisors Inc increased its position in Alcoa by 1,096.0% in the 2nd quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 822 shares during the last quarter. Horrell Capital Management Inc. purchased a new stake in shares of Alcoa during the 2nd quarter worth about $30,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Alcoa during the 3rd quarter worth about $33,000.

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.