Noranda Aluminum Holding upgraded to “Neutral” at Zacks

Noranda Aluminum Holding was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report released on Tuesday, Stock Ratings Network reports. The firm currently has a $3.40 target price on the stock.

Shares of Noranda Aluminum Holding traded down 2.09% during mid-day trading on Tuesday, hitting $3.28. Noranda Aluminum Holding has a one year low of $3.18 and a one year high of $10.95. The stock’s 50-day moving average is currently $4.1. The company has a market cap of $222.2 million and a P/E ratio of 4.65.

Noranda Aluminum Holding last released its earnings data on Wednesday, February 20th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.09. The company had revenue of $332.90 million for the quarter, compared to the consensus estimate of $332.09 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts expect that Noranda Aluminum Holding will post $-0.07 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Citigroup downgraded shares of Noranda Aluminum Holding from a “buy” rating to a “neutral” rating in a research note to investors on Monday, April 15th. Separately, analysts at Credit Suisse cut their price target on shares of Noranda Aluminum Holding from $7.00 to $6.00 in a research note to investors on Friday, February 22nd. Finally, analysts at Barclays Capital cut their price target on shares of Noranda Aluminum Holding from $8.00 to $7.00 in a research note to investors on Thursday, February 21st. They now have an “equal weight” rating on the stock.