Alcoa Price Target Increased to $16.00 by Analysts at Cowen and Company (AA)
Equities research analysts at Cowen and Company boosted their target price on shares of Alcoa (NYSE:AA) from $12.00 to $16.00 in a research note issued to investors on Tuesday. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price target points to a potential downside of 1.17% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs raised their price target on shares of Alcoa from $17.00 to $20.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Separately, analysts at Macquarie raised their price target on shares of Alcoa from $10.00 to $11.00 in a research note on Thursday, July 10th. Finally, analysts at TheStreet upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $15.50.
Shares of Alcoa (NYSE:AA) remained flat at $16.19 during trading on Tuesday. The stock had a trading volume of 15,230,822 shares. Alcoa has a one year low of $7.68 and a one year high of $17.22. The stock’s 50-day moving average is $15.96 and its 200-day moving average is $13.58. The company’s market cap is $19.045 billion.
Alcoa (NYSE:AA) last announced its earnings results on Tuesday, July 8th. The company reported $0.18 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.07 earnings per share. Alcoa’s revenue was down .2% compared to the same quarter last year. On average, analysts predict that Alcoa will post $0.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 25th. Investors of record on Friday, August 8th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Wednesday, August 6th.
Alcoa Inc (NYSE:AA) is engaged in lightweight metals, products and solutions.
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