Noranda Aluminum price target cut to $2.75 by analysts

Research analysts at UBS AG dropped their target price on shares of Noranda Aluminum Holding Corp. from $3.50 to $2.75 in a report released on Wednesday, Stock Ratings News reports. The firm currently has a “neutral” rating on the stock. UBS AG’s price target would indicate a potential upside of 7.00% from the stock’s previous close.

A number of other firms have also recently commented on NOR. Analysts at Zacks upgraded shares of Noranda Aluminum Holding Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 8th. They now have a $2.40 price target on the stock. Separately, analysts at Morgan Stanley cut their price target on shares of Noranda Aluminum Holding Corp. from $3.75 to $2.50 in a research note to investors on Monday, October 7th. Finally, analysts at Sidoti initiated coverage on shares of Noranda Aluminum Holding Corp. in a research note to investors on Tuesday, September 17th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Noranda Aluminum Holding Corp. currently has a consensus rating of “Hold” and a consensus price target of $3.82.

Shares of Noranda Aluminum Holding Corp. opened at 2.57 on Wednesday. Noranda Aluminum Holding Corp. has a one year low of $2.21 and a one year high of $6.97. The stock’s 50-day moving average is $2.55 and its 200-day moving average is $3.35. The company’s market cap is $174.8 million.

Noranda Aluminum Holding Corp. last released its earnings data on Wednesday, July 24th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by $0.02. The company had revenue of $352.00 million for the quarter, compared to the consensus estimate of $340.08 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, analysts predict that Noranda Aluminum Holding Corp. will post $-0.61 earnings per share for the current fiscal year.