Alcoa Given New $14.00 Price Target at Stifel Nicolaus (AA)
Investment analysts at Stifel Nicolaus hoisted their price objective on shares of Alcoa (NYSE:AA) from $11.00 to $14.00 in a note issued to investors on Wednesday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 18.14% from the stock’s previous close.
In other Alcoa news, VP Robert Sean Collins unloaded 14,665 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $12.17, for a total value of $178,473.05. Following the completion of the sale, the vice president now directly owns 36,648 shares in the company, valued at approximately $446,006. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on AA. Analysts at JPMorgan Chase & Co. upgraded shares of Alcoa from a “neutral” rating to an “overweight” rating in a research note to investors on Tuesday, January 21st. They now have a $15.00 price target on the stock, up previously from $9.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Alcoa in a research note to investors on Tuesday, January 14th. They now have a $11.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Alcoa from $8.00 to $10.00 in a research note to investors on Monday, January 13th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Alcoa presently has an average rating of “Hold” and an average target price of $9.64.
Alcoa (NYSE:AA) opened at 11.85 on Wednesday. Alcoa has a 1-year low of $7.63 and a 1-year high of $12.32. The stock’s 50-day moving average is $10.54 and its 200-day moving average is $9.0. The company’s market cap is $12.691 billion.
Alcoa (NYSE:AA) last announced its earnings results 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 $0.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, February 25th. Investors of record on Friday, February 7th will be given a dividend of 0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, February 5th.
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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