Alcoa (NYSE:AA) Given New $55.00 Price Target at JPMorgan Chase & Co.

Alcoa (NYSE:AA) had its price target decreased by JPMorgan Chase & Co. from $70.00 to $55.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

Several other research analysts also recently weighed in on the stock. Royal Bank Of Canada set a $70.00 target price on shares of Alcoa in a research report on Wednesday, July 1st. UBS Group dropped their target price on Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Zacks Research lowered shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Wells Fargo & Company increased their price target on Alcoa from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday. Finally, BMO Capital Markets increased their target price on Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alcoa presently has an average rating of “Hold” and an average price target of $64.91.

Alcoa Stock Performance

AA stock opened at $48.78 on Thursday. Alcoa has a fifty-two week low of $28.11 and a fifty-two week high of $84.38. The company has a market capitalization of $12.87 billion, a P/E ratio of 12.35, a PEG ratio of 0.70 and a beta of 1.63. The company has a 50-day simple moving average of $63.55 and a 200 day simple moving average of $62.78. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the previous year, the business posted $2.15 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. Sell-side analysts predict that Alcoa will post 8.07 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s dividend payout ratio is currently 10.13%.

Hedge Funds Weigh In On Alcoa

A number of large investors have recently modified their holdings of AA. Basepoint Wealth LLC bought a new position in Alcoa in the 4th quarter valued at $25,000. Advisory Services Network LLC bought a new stake in shares of Alcoa in the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. raised its holdings in Alcoa by 52,500.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 525 shares during the period. CoreCap Advisors LLC boosted its position in shares of Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 581 shares during the period.

Key Stories Impacting Alcoa

Here are the key news stories impacting Alcoa this week:

• Positive Sentiment: Wells Fargo raised its price target on Alcoa to $72 from $71 and kept an overweight rating, signaling one analyst still sees meaningful upside. Alcoa had its price target raised by Wells Fargo & Company
• Neutral Sentiment: Alcoa was added to the Zacks Rank #5 “Strong Sell” list, which may reinforce bearish sentiment but is a model-based signal rather than a company-specific event. New Strong Sell Stocks for July 9th
• Neutral Sentiment: Benzinga highlighted Alcoa as one of several “oversold” materials stocks with RSI near or below 30, which could attract bargain hunters if investors look for a rebound. New Strong Sell Stocks for July 9th
• Negative Sentiment: Analyst sentiment has deteriorated as Morgan Stanley, JPMorgan, and Bank of America all trimmed their valuation views, citing weaker aluminum fundamentals and a less favorable supply outlook. Morgan Stanley upgrades Ivanhoe Mines, cuts Alcoa and Vale on metals outlook

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.