JPMorgan Chase & Co. Increases Alcoa (AA) Price Target to $71.00

Alcoa (NYSE:AA) had its price target boosted by JPMorgan Chase & Co. from $68.00 to $71.00 in a report issued on Monday, MarketBeat.com reports. They currently have an overweight rating on the industrial products company’s stock.

Other research analysts also recently issued reports about the stock. Macquarie restated a buy rating and set a $62.00 price objective (up from $55.00) on shares of Alcoa in a research report on Tuesday, October 10th. Citigroup boosted their price objective on shares of Alcoa to $65.00 and gave the company a buy rating in a research report on Thursday, January 11th. BMO Capital Markets restated a buy rating and set a $65.00 price objective on shares of Alcoa in a research report on Friday, December 22nd. Bank of America restated a buy rating and set a $63.00 price objective (down from $67.00) on shares of Alcoa in a research report on Thursday, January 18th. Finally, Morgan Stanley set a $55.00 price objective on shares of Alcoa and gave the company a buy rating in a research report on Tuesday, December 19th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $57.72.

Shares of Alcoa (NYSE:AA) opened at $45.98 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 0.90. Alcoa has a 1 year low of $29.55 and a 1 year high of $57.50. The firm has a market cap of $8,510.00 and a P/E ratio of 39.64.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 17th. The industrial products company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.19). Alcoa had a net margin of 1.86% and a return on equity of 6.90%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. analysts predict that Alcoa will post 3.69 EPS for the current year.

In other Alcoa news, COO Tomas Mar Sigurdsson sold 10,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $51.37, for a total transaction of $513,700.00. Following the sale, the chief operating officer now owns 46,832 shares of the company’s stock, valued at $2,405,759.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William F. Oplinger sold 229,475 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $52.86, for a total transaction of $12,130,048.50. Following the sale, the vice president now directly owns 108,915 shares in the company, valued at approximately $5,757,246.90. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wisconsin Investment Board grew its stake in shares of Alcoa by 6.0% in the fourth quarter. State of Wisconsin Investment Board now owns 155,774 shares of the industrial products company’s stock worth $8,392,000 after purchasing an additional 8,814 shares during the last quarter. Independence Trust CO bought a new stake in shares of Alcoa in the fourth quarter worth $224,000. AMG National Trust Bank grew its stake in shares of Alcoa by 55.4% in the fourth quarter. AMG National Trust Bank now owns 33,970 shares of the industrial products company’s stock worth $1,830,000 after purchasing an additional 12,112 shares during the last quarter. First Allied Advisory Services Inc. grew its stake in shares of Alcoa by 25.9% in the fourth quarter. First Allied Advisory Services Inc. now owns 5,684 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 1,171 shares during the last quarter. Finally, Chartwell Investment Partners LLC bought a new stake in shares of Alcoa in the fourth quarter worth $911,000.

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Alcoa Company Profile

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.

Analyst Recommendations for Alcoa (NYSE:AA)

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