Alcoa Upgraded to Overweight at JPMorgan Chase & Co. (AA)
Alcoa (NYSE:AA) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $15.00 price objective on the stock, up from their previous price objective of $9.00. JPMorgan Chase & Co.’s target price points to a potential upside of 23.66% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Alcoa in a research note to investors on Tuesday, January 14th. They now have a $11.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Alcoa from $8.00 to $10.00 in a research note to investors on Monday, January 13th. Finally, analysts at Deutsche Bank raised their price target on shares of Alcoa from $5.50 to $7.50 in a research note to investors on Friday, January 10th. They now have a “sell” rating on the stock. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $9.50.
Alcoa (NYSE:AA) traded up 6.78% during mid-day trading on Tuesday, hitting $12.13. The stock had a trading volume of 128,821,352 shares. Alcoa has a 52 week low of $7.63 and a 52 week high of $11.53. The stock has a 50-day moving average of $10.11 and a 200-day moving average of $8.83. The company’s market cap is $12.991 billion. Alcoa also was the target of unusually large options trading activity on Monday. Stock investors acquired 19,504 put options on the company. This represents an increase of 100% compared to the average daily volume of 9,734 put options.
Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, January 9th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.02. The company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. Analysts expect that Alcoa will post $0.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, February 25th. Shareholders of record on Friday, February 7th will be paid a dividend of 0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, February 5th.
Alcoa Inc (NYSE:AA) is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined, through its participation in technology, mining, refining, smelting, fabricating, and recycling.
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