Alcoa Sees Unusually Large Options Volume (AA)
Shares of Alcoa (NYSE:AA) were the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 20,302 call options on the company, Stock Ratings News reports. This is an increase of 111% compared to the average volume of 9,624 call options.
AA has been the subject of a number of recent research reports. Analysts at Cowen and Company raised their price target on shares of Alcoa from $12.00 to $16.00 in a research note on Tuesday, August 12th. They now have a “market perform” rating on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $15.50.
Alcoa (NYSE:AA) traded up 1.56% during mid-day trading on Wednesday, hitting $16.93. 10,797,420 shares of the company’s stock traded hands. Alcoa has a 52 week low of $7.73 and a 52 week high of $17.22. The stock’s 50-day moving average is $16.50 and its 200-day moving average is $14.11. The company’s market cap is $19.915 billion.
Alcoa (NYSE:AA) last issued its quarterly earnings data on Tuesday, July 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. On average, analysts predict that Alcoa will post $0.61 earnings per share for the current fiscal year.
Alcoa Inc (NYSE:AA) is engaged in lightweight metals, products and solutions.
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