Traders Purchase Large Volume of Alcoa Call Options (AA)
Shares of Alcoa (NYSE:AA) were the target of unusually large options trading on Wednesday. Stock traders bought 13,112 call options on the stock, American Banking News reports. This is an increase of approximately 146% compared to the average daily volume of 5,327 call options.
A number of analysts have recently weighed in on AA shares. Analysts at Bank of America upgraded shares of Alcoa from an “underperform” rating to a “neutral” rating in a research note on Monday. They now have a $14.00 price target on the stock, up previously from $9.50. They noted that the move was a valuation call. Separately, analysts at Northcoast Research initiated coverage on shares of Alcoa in a research note on Friday, May 9th. They set a “buy” rating and a $17.00 price target on the stock. Finally, analysts at RBC Capital upgraded shares of Alcoa from an “underperform” rating to a “sector perform” rating in a research note on Thursday, April 17th. They now have a $15.00 price target on the stock, up previously from $12.00. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $13.43.
Alcoa (NYSE:AA) traded up 1.25% on Wednesday, hitting $13.82. The stock had a trading volume of 7,901,073 shares. Alcoa has a 52 week low of $7.63 and a 52 week high of $13.95. The stock has a 50-day moving average of $13.46 and a 200-day moving average of $11.70. The company’s market cap is $16.201 billion.
Alcoa (NYSE:AA) last issued its quarterly earnings data on Tuesday, April 8th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. Analysts expect that Alcoa will post $0.46 EPS for the current fiscal year.
Alcoa Inc (NYSE:AA) is engaged in lightweight metals, products and solutions.
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