Alcoa (NYSE:AA) had its target price increased by JPMorgan Chase & Co. to $68.00 in a research report issued on Thursday. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 28.06% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Citigroup restated a “buy” rating and issued a $55.00 price target (up from $53.00) on shares of Alcoa in a research note on Friday, October 20th. Gabelli downgraded Alcoa from a “buy” rating to a “hold” rating and raised their price target for the company from $57.00 to $60.00 in a research note on Wednesday, October 4th. Credit Suisse Group upgraded Alcoa from a “neutral” rating to an “outperform” rating and raised their price target for the company from $42.00 to $61.00 in a research note on Wednesday, December 20th. BMO Capital Markets restated a “buy” rating and issued a $60.00 price target on shares of Alcoa in a research note on Wednesday, November 15th. Finally, Morgan Stanley raised their price target on Alcoa from $47.00 to $54.00 and gave the company a “top pick” rating in a research note on Monday, September 25th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.00.

Alcoa (NYSE:AA) opened at $53.10 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 0.90. The firm has a market capitalization of $9,840.00 and a P/E ratio of 45.78. Alcoa has a one year low of $29.55 and a one year high of $57.50.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, January 17th. The industrial products company reported $1.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.19). The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.29 billion. Alcoa had a net margin of 1.86% and a return on equity of 6.90%. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 earnings per share. equities research analysts predict that Alcoa will post 4.11 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue bought a new position in shares of Alcoa during the 4th quarter worth approximately $593,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Alcoa by 10.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 759,531 shares of the industrial products company’s stock worth $40,916,000 after acquiring an additional 68,793 shares during the period. Creative Planning boosted its stake in shares of Alcoa by 197.7% during the 4th quarter. Creative Planning now owns 18,428 shares of the industrial products company’s stock worth $993,000 after acquiring an additional 12,238 shares during the period. Convergence Investment Partners LLC boosted its stake in shares of Alcoa by 2.4% during the 4th quarter. Convergence Investment Partners LLC now owns 47,722 shares of the industrial products company’s stock worth $2,571,000 after acquiring an additional 1,140 shares during the period. Finally, Fruth Investment Management bought a new position in shares of Alcoa during the 4th quarter worth approximately $200,000.

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About Alcoa

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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