Alcoa Inc (AA) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 39 from a previous price target of $13 . Stifel advised their investors in a research report released on Oct 7, 2016.
Many Wall Street Analysts have commented on Alcoa Inc. Seaport Global Securities Initiated Alcoa Inc on Sep 9, 2016 to “Neutral”, Price Target of the shares are set at $11.
On the company’s financial health, Alcoa Inc reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 11, 2016. Analyst had a consensus of $0.10. The company had revenue of $5295.00 million for the quarter, compared to analysts expectations of $5224.35 million. The company’s revenue was down -10.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.19 EPS.
Alcoa Inc opened for trading at $10.06 and hit $10.21 on the upside on Tuesday, eventually ending the session at $10.2, with a gain of 0.79% or 0.08 points. The heightened volatility saw the trading volume jump to 3,19,90,579 shares. Company has a market cap of $13,417 M.
Investors should note that on Sep 29, 2016, Alcoa Inc announced a cash dividend of $0.9375. The company’s management has announced Dec 7, 2016 as the ex-dividend date and fixed the record date on Dec 9, 2016. The payable date has been fixed on Jan 1, 2017.
In a different news, on Jul 15, 2016, Martin Sorrell (director) purchased 1,990 shares at $10.73 per share price. According to the SEC, on Jul 15, 2016, Ratan Tata (director) purchased 2,045 shares at $10.73 per share price. On Apr 28, 2016, Ulrich Schmidt (director) purchased 5,000 shares at $10.25 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.