Alcoa Inc (AA) is Initiated by Rosenblatt to Buy, Price Target at $15

Alcoa Inc (AA) was Initiated by Rosenblatt to “Buy” and the brokerage firm has set the Price Target at $15. Rosenblatt advised their investors in a research report released on Apr 26, 2016.

Many Wall Street Analysts have commented on Alcoa Inc. Shares were Reiterated by Stifel on Apr 12, 2016 to “Buy” and Lowered the Price Target to $ 13 from a previous price target of $14 .Alcoa Inc was Initiated by Credit Suisse to “Outperform” on Mar 11, 2016. Berenberg Initiated Alcoa Inc on Mar 3, 2016 to “Hold”, Price Target of the shares are set at $9.

On the company’s financial health, Alcoa Inc reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 11, 2016. Analyst had a consensus of $0.03. The company had revenue of $4947.00 million for the quarter, compared to analysts expectations of $5153.58 million. The company’s revenue was down -15.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

Alcoa Inc closed down -0.02 points or -0.19% at $10.4 with 2,01,71,712 shares getting traded on Friday. Post opening the session at $10.45, the shares hit an intraday low of $10.32 and an intraday high of $10.64 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Investors should note that on Mar 29, 2016, Alcoa Inc announced a cash dividend of $0.0300. The company’s management has announced May 4, 2016 as the ex-dividend date and fixed the record date on May 6, 2016. The payable date has been fixed on May 25, 2016.

In a different news, on Apr 26, 2016, Olivier M Jarrault (Executive Vice President) sold 12,810 shares at $10.23 per share price. According to the SEC, on Apr 20, 2016, Martin Sorrell (director) purchased 2,100 shares at $10.35 per share price. On Apr 20, 2016, Ratan Tata (director) purchased 2,150 shares at $10.36 per share price, according to the Form-4 filing with the securities and exchange commission.

Alcoa Inc. (Alcoa) is engaged in lightweight metals engineering and manufacturing. The Company operates in four segments: Alumina Primary Metals Global Rolled Products and Engineered Products and Solutions. Its products which include aluminum titanium and nickel are used in aircraft automobiles commercial transportation packaging building and construction oil and gas defense consumer electronics and industrial applications across the world. It also produces and manages primary aluminum fabricated aluminum and alumina combined through its active participation in the aspects of the industry including technology mining refining smelting fabricating and recycling. The Company has investments and operating activities in Australia Brazil China Guinea Iceland Russia and Saudi Arabia among others. It produces three dimensional (3D-printed) titanium specialty metals and plastic parts for aerospace medical and energy applications.

Alcoa Inc

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