Alcoa (NYSE:AA) Coverage Initiated at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. assumed coverage on shares of Alcoa (NYSE:AA) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The firm set a “neutral” rating and a $36.00 price target on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 8.33% from the stock’s current price.

A number of other research firms have also recently commented on AA. B. Riley upped their price objective on Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. B. Riley Financial reiterated a “neutral” rating and set a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. UBS Group increased their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. StockNews.com lowered shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Finally, Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.82.

Alcoa Stock Up 9.1 %

NYSE:AA opened at $39.27 on Wednesday. The company has a market capitalization of $7.05 billion, a PE ratio of -10.44 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. Alcoa has a 1-year low of $23.07 and a 1-year high of $45.48. The firm’s 50-day moving average price is $32.42 and its 200-day moving average price is $35.87.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.35) earnings per share. On average, equities analysts predict that Alcoa will post 0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Douglas Lane & Associates LLC increased its stake in Alcoa by 12.9% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,351,720 shares of the industrial products company’s stock worth $45,675,000 after buying an additional 154,403 shares during the period. ARGA Investment Management LP lifted its stake in Alcoa by 202.2% in the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after acquiring an additional 997,912 shares during the period. Quadrature Capital Ltd purchased a new position in Alcoa during the 1st quarter valued at about $593,000. Cloverfields Capital Group LP bought a new stake in shares of Alcoa in the 4th quarter valued at about $865,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Alcoa in the 2nd quarter worth approximately $706,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

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.