Alcoa target of unusually high options trading (AA)

Alcoa was the recipient of unusually large options trading on Tuesday. Investors acquired 30,462 call options on the stock, AnalystRatings.NET reports. This represents an increase of 142% compared to the average volume of 12,590 call options.

A number of analysts have recently weighed in on AA shares. Analysts at BMO Capital Markets initiated coverage on shares of Alcoa in a research note on Tuesday. They set a “market perform” rating on the stock. Separately, analysts at Deutsche Bank upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Monday, October 27th. They now have a $20.00 price target on the stock, up previously from $16.00. Finally, analysts at Macquarie reiterated a “neutral” rating on shares of Alcoa in a research note on Friday, October 17th. They now have a $13.00 price target on the stock, up previously from $11.00. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $17.75.

Alcoa traded up 1.96% on Tuesday, hitting $17.16. The stock had a trading volume of 14,718,536 shares. Alcoa has a 1-year low of $8.95 and a 1-year high of $17.36. The stock has a 50-day moving average of $16.00 and a 200-day moving average of $15.53. The company’s market cap is $20.229 billion.

Alcoa last announced its earnings results on Wednesday, October 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.10. The company had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts predict that Alcoa will post $0.83 earnings per share for the current fiscal year.

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