Alcoa Target of Unusually High Options Trading (AA)
Alcoa (NYSE:AA) was the recipient of unusually large options trading on Monday. Traders purchased 28,824 call options on the stock, Analyst Ratings Network reports. This is an increase of approximately 190% compared to the average volume of 9,949 call options.
AA has been the subject of a number of recent research reports. Analysts at Morgan Stanley downgraded shares of Alcoa from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. They now have a $9.00 price target on the stock, down previously from $10.00. Separately, analysts at RBC Capital reiterated an “underperform” rating on shares of Alcoa in a research note to investors on Friday. They now have a $9.00 price target on the stock. Finally, analysts at Deutsche Bank downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research note to investors on Wednesday, October 2nd. They now have a $5.50 price target on the stock, down previously from $9.00. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.42.
Alcoa (NYSE:AA) traded up 0.13% on Monday, hitting $7.97. The stock had a trading volume of 36,741,880 shares. 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 $8.07 and a 200-day moving average of $8.20. The company has a market cap of $8.524 billion and a price-to-earnings ratio of 66.89.
The company also recently announced a quarterly dividend, which is scheduled for Monday, November 25th. Investors of record on Friday, November 8th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Wednesday, November 6th.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.