Alcoa Price Target Raised to $11.00 at Macquarie (AA)
Stock analysts at Macquarie upped their price objective on shares of Alcoa (NYSE:AA) from $10.00 to $11.00 in a report issued on Thursday. Macquarie’s price objective indicates a potential downside of 29.58% from the stock’s previous close.
A number of other firms have also recently commented on AA. Analysts at TheStreet upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Thursday. Separately, analysts at ISI Group reiterated a “buy” rating on shares of Alcoa in a research note on Thursday. Finally, analysts at Morgan Stanley upgraded shares of Alcoa from an “equal weight” rating to an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. Alcoa currently has a consensus rating of “Hold” and a consensus price target of $14.79.
Shares of Alcoa (NYSE:AA) traded down 0.45% on Thursday, hitting $15.62. The stock had a trading volume of 28,419,548 shares. Alcoa has a 1-year low of $7.68 and a 1-year high of $15.97. The stock has a 50-day moving average of $14.36 and a 200-day moving average of $12.65. The company’s market cap is $18.340 billion.
Alcoa (NYSE:AA) last posted its quarterly earnings results on Tuesday, July 8th. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.12 by $0.06. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the prior year, the company posted $0.07 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. Analysts expect that Alcoa will post $0.52 EPS for the current fiscal year.
Alcoa Inc (NYSE:AA) is engaged in lightweight metals, products and solutions.
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