Alcoa Given Underperform Rating at RBC Capital (AA)
Alcoa (NYSE:AA)‘s stock had its “underperform” rating reaffirmed by investment analysts at RBC Capital in a note issued to investors on Friday, Stock Ratings Network reports. They currently have a $9.00 price target on the stock. RBC Capital’s target price would suggest a potential upside of 13.07% from the stock’s previous close.
Shares of Alcoa (NYSE:AA) traded up 1.27% during mid-day trading on Friday, hitting $7.96. 19,954,584 shares of the company’s stock traded hands. Alcoa has a 1-year low of $7.63 and a 1-year high of $9.37. The stock has a 50-day moving average of $8.0 and a 200-day moving average of $8.20. The company has a market cap of $8.514 billion and a P/E ratio of 66.05. Alcoa also was the target of unusually large options trading activity on Wednesday. Stock investors purchased 11,660 put options on the company. This represents an increase of approximately 189% compared to the typical volume of 4,032 put options.
The company also recently declared a quarterly dividend, which is scheduled for Monday, November 25th. Investors of record on Friday, November 8th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Wednesday, November 6th.
A number of other analysts have also recently weighed in on AA. Analysts at Deutsche Bank downgraded shares of Alcoa (NYSE:AA) from a “hold” rating to a “sell” rating in a research note to investors on Wednesday. They now have a $5.50 price target on the stock, down previously from $9.00. Separately, analysts at Merrill Lynch downgraded shares of Alcoa (NYSE:AA) from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, August 16th. Finally, analysts at Bank of America Corp. downgraded shares of Alcoa (NYSE:AA) from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, August 16th. They now have a $8.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Alcoa presently has a consensus rating of “Hold” and an average price target of $8.38.
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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