Equities research analysts at UBS AG (NYSE: UBS) boosted their price target on shares of Alcoa Inc. (NYSE: AA) from $18.00 to $19.50 in a research note to investors on Tuesday. The analysts currently have a “neutral” rating on the stock.
Separately, analysts at Dahlman Rose reiterated a “buy” rating on shares of Alcoa Inc. in a research note to investors on Tuesday. They now have a $22.00 price target on the stock. Also, analysts at Goldman Sachs (NYSE: GS) raised their EPS on shares of Alcoa Inc. in a research note to investors on Tuesday. They now have a “neutral” rating and a $17.00 price target on the stock.
Shares of Alcoa Inc. traded down 1.44% during mid-day trading on Wednesday, hitting $16.46. Alcoa Inc. has a 52 week low of $9.81 and a 52 week high of $18.47. The stock’s 50-day moving average is $16.81 and its 200-day moving average is $15.1. The company has a market cap of $17.492 billion and a price-to-earnings ratio of 69.01.
Alcoa Inc. last announced its quarterly results on Monday, April 11st. The company reported $0.28 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.27 EPS by $0.01. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts predict that Alcoa Inc. will post $0.35 EPS next quarter.
Alcoa Inc. (Alcoa) is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined. The Company’s products are used worldwide in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, and industrial applications. Alcoa is a global company operating in 31 countries. Based upon the country where the point of sale occurred, the United States (U.S.) and Europe generated 52% and 27%, respectively, of Alcoa’s sales during the year ended December 31, 2009. In addition, Alcoa has investments and operating activities in Australia, Brazil, China, Iceland, Guinea, Russia, and the Kingdom of Saudi Arabia. Alcoa’s operations consist of four worldwide segments: Alumina, Primary Metals, Flat-Rolled Products, and Engineered Products and Solutions. In August 2010, the Company acquired Traco, a maker of windows and doors for the commercial building and construction market.
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