Bank of America Corp. downgraded Alcoa Inc (NYSE:AA) to Neutral in a report released today.
- Updated: October 11, 2016
Yesterday Alcoa Inc (NYSE:AA) traded -11.42% lower at $27.91. The company’s 50-day moving average is $29.93 and its 200-day moving average is $29.86. The last closing price is down -6.53% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 32,660,329 shares of the stock traded hands, up from an average trading volume of 6,007,980
Bank of America Corp. has downgraded Alcoa Inc (NYSE:AA) to Neutral in a report released on 10/11/2016.
Previously on Friday October 07, 2016, Stifel Nicolaus reported on Alcoa Inc (NYSE:AA) increased the target price from $13.00 to $39.00. At the time, this indicated a possible upside of 0.24%.
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Alcoa Inc has a 52 week low of $18.42 and a 52 week high of $34.50 The company’s market cap is currently $0.
In addition to Bank of America Corp. reporting its stock price target, a total of 14 brokers have issued a report on the company. The average stock price target is $10.89 with 3 brokers rating the stock a strong buy, 6 brokers rating the stock a buy, 8 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 1 broker rating the stock a sell.
General Information About Alcoa Inc (NYSE:AA)
Alcoa Inc. is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company's multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications. It is also engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined, through its participation in various aspects of the industry, including technology, mining, refining, smelting, fabricating and recycling. It has operations in approximately 30 countries. The Company has investments and operating activities in Australia, Brazil, China, Guinea, Iceland and Saudi Arabia, among others. It also refines alumina from bauxite ore.
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