The Dog Of The Dow (AA)
By Swing Trader
March 10, 2010 3:12 PM
March 10, 2010 3:12 PM
Symbols: AA
Alcoa (NYSE: AA) is the current "Dog of the Dow" and remains stuck in the doghouse today.
Shares of Alcoa are down roughly 14% year to date and 0.51% today to trade at $13.60.
The world's largest aluminum maker has struggled since mid-January when it disappointed investors with its fourth quarter earnings report.
Alcoa trades at approximately 11 times next year's earnings, so it may begin to attract bargain hunters at these levels. The current consensus price target for Alcoa is $18.33, which is 34% higher than today's price.
Also, it is scheduled to report earnings on April 12 and may catch positive momentum into its report.
Alcoa has been a dog for a few months now, but remember, every dog has its day.
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