Dallas, Texas 11/26/2013 (Financialstrend) – Alcoa Inc (NYSE:AA), one of the largest aluminium product manufacturers in the world, is poised for a new phase of growth. Stock prices were observed to have risen to 3.79% reaching $9.59 per share, at the end of trading on Monday.
Goldman Sachs recent grading of Alcoa Inc from a neutral stock to the category of high performance stock, led to investors buying more of Alcoa stock.
Analysts across the industry indicated that Alcoa Inc (NYSE:AA) is most likely to achieve benchmark of $11 per share in the near future, considering the strong fundamentals the company holds.
Besides, Alcoa Inc (NYSE:AA), is one of the few companies which produces aluminium based raw materials required for the aircraft industry.
In the recent years, Alcoa has remained focused on developing core capability for the aircraft manufacturing industry. Alcoa has been producing and managing alumina, fabrication of aluminium, refining, smelting as well as recycling.
Alcoa Inc (NYSE:AA), already has well established supply equation for the automotive industry already. Alcoa has been a long-time producer of automotive products, essentially raw materials based on aluminium which are used by different car makers to produce various specialized and customized products.
Alcoa Inc (NYSE:AA) aluminium products are also the raw materials used by many other industries such as packaging, building and construction as well as consumer electronics, oil and gas and most importantly by the country’s defense divisions. Aloca operations are spread over 31 countries and the company also has a strong presence in the engineered products, flat-rolled products division as well.
In the past three months, Alcoa has seen an increase in stock prices by nearly 19% with volumes increasing consistently. It currently holds a market cap of $10.26 billion and EPS value of 0.25. Over 52 weeks, Alcoa Inc has seen prices move between $7.62 and $9.97, while the average range has been between $9.52 and $9.975 on Nov 25.