Morgan Stanley Lowers Noranda Aluminum Holding Corp. Price Target to $2.50 (NOR)
Stock analysts at Morgan Stanley dropped their target price on shares of Noranda Aluminum Holding Corp. (NYSE:NOR) from $3.75 to $2.50 in a report issued on Monday, AnalystRatings.Net reports. Morgan Stanley’s target price would indicate a potential upside of 7.30% from the company’s current price.
NOR has been the subject of a number of other recent research reports. Analysts at Sidoti initiated coverage on shares of Noranda Aluminum Holding Corp. in a research note to investors on Tuesday, September 17th. They set a “buy” rating on the stock. Separately, analysts at Merrill Lynch downgraded shares of Noranda Aluminum Holding Corp. to an “underperform” rating in a research note to investors on Friday, August 16th. Finally, analysts at Bank of America Corp. downgraded shares of Noranda Aluminum Holding Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, August 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $4.08.
Noranda Aluminum Holding Corp. (NYSE:NOR) traded up 0.43% on Monday, hitting $2.33. The stock had a trading volume of 390,665 shares. Noranda Aluminum Holding Corp. has a 52 week low of $2.28 and a 52 week high of $6.97. The stock has a 50-day moving average of $2.70 and a 200-day moving average of $3.47. The company’s market cap is $158.5 million.
Noranda Aluminum Holding Corp. (NYSE:NOR) last announced its earnings results on Wednesday, July 24th. The company reported ($0.16) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.14) by $0.02. The company had revenue of $352.00 million for the quarter, compared to the consensus estimate of $340.08 million. During the same quarter last year, the company posted $0.11 earnings per share. Noranda Aluminum Holding Corp.’s revenue was down 5.3% compared to the same quarter last year.
Noranda Aluminum Holding Corporation (NYSE:NOR) is a North American integrated producer of aluminum products and rolled aluminum coils.
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