Alcoa Rating Reiterated by ISI Group (AA)
AA has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of Alcoa from $15.00 to $16.00 in a research note on Friday. They now have a “sector perform” rating on the stock. Separately, analysts at Sterne Agee reiterated a “buy” rating on shares of Alcoa in a research note on Friday. They now have a $18.00 price target on the stock, up previously from $15.00. Finally, analysts at BMO Capital Markets upgraded shares of Alcoa from an “underperform” rating to a “market perform” rating in a research note on Thursday, June 12th. They now have a $14.00 price target on the stock, up previously from $10.00. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.17.
Shares of Alcoa (NYSE:AA) traded down 1.20% during mid-day trading on Friday, hitting $14.76. 3,767,900 shares of the company’s stock traded hands. Alcoa has a 1-year low of $7.63 and a 1-year high of $15.18. The stock has a 50-day moving average of $13.92 and a 200-day moving average of $12.27. The company’s market cap is $17.303 billion. Alcoa also was the recipient of a large decline in short interest during the month of May. As of May 30th, there was short interest totalling 67,172,239 shares, a decline of 11.6% from the May 15th total of 76,002,433 shares. Approximately 5.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 13,161,801 shares, the short-interest ratio is currently 5.1 days.
Alcoa (NYSE:AA) last announced its earnings results on Tuesday, April 8th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue 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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