Alcoa Price Target Increased to $10.00 by Analysts at Jefferies Group (AA)
Equities researchers at Jefferies Group lifted their price target on shares of Alcoa (NYSE:AA) from $8.00 to $10.00 in a research report issued on Monday, AnalystRatings.Net reports. Jefferies Group’s target price would suggest a potential downside of 12.28% from the company’s current price.
A number of other firms have also recently commented on AA. Analysts at Deutsche Bank raised their price target on shares of Alcoa from $5.50 to $7.50 in a research note to investors on Friday, January 10th. They now have a “sell” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of Alcoa from a “neutral” rating to a “buy” rating in a research note to investors on Monday, November 25th. They now have a $11.00 price target on the stock, up previously from $8.00. Finally, analysts at RBC Capital reiterated an “underperform” rating on shares of Alcoa in a research note to investors on Friday, November 8th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $9.08.
Shares of Alcoa (NYSE:AA) opened at 11.36 on Monday. Alcoa has a one year low of $7.63 and a one year high of $11.53. The stock has a 50-day moving average of $10.08 and a 200-day moving average of $8.81. The company’s market cap is $12.167 billion. Alcoa also was the target of unusually large options trading activity on Thursday. Stock traders acquired 54,654 call options on the company. This is an increase of 124% compared to the typical daily volume of 24,415 call options.
Alcoa (NYSE:AA) last released its earnings data on Thursday, January 9th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.02. The company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. Analysts expect that Alcoa will post $0.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, February 25th. Stockholders of record on Friday, February 7th will be paid a dividend of 0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.05%.
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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