Noranda Aluminum Holding Corp. Rating Increased to Neutral at Zacks (NOR)
Noranda Aluminum Holding Corp. (NYSE:NOR) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report released on Tuesday, Analyst Ratings.Net reports. The firm currently has a $2.40 price objective on the stock. Zacks‘ price objective would suggest a potential upside of 3.00% from the stock’s previous close.
A number of other firms have also recently commented on NOR. Analysts at Morgan Stanley cut their price target on shares of Noranda Aluminum Holding Corp. from $3.75 to $2.50 in a research note to investors on Monday. Separately, 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. Finally, 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $3.94.
Shares of Noranda Aluminum Holding Corp. (NYSE:NOR) traded down 4.29% on Tuesday, hitting $2.23. The stock had a trading volume of 378,872 shares. Noranda Aluminum Holding Corp. has a 52 week low of $2.28 and a 52 week high of $6.97. The stock’s 50-day moving average is $2.68 and its 200-day moving average is $3.44. The company’s market cap is $151.7 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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