Zacks Investment Research Upgrades Kaiser Aluminum (KALU) to Hold
Kaiser Aluminum (NASDAQ:KALU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Kaiser Aluminum is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The Company’s North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube, and wire products, adhering to traditions of quality, innovation, and service. Kaiser Aluminum is headquartered in Foothill Ranch, California. “
KALU has been the topic of a number of other reports. Deutsche Bank lowered Kaiser Aluminum from a “buy” rating to a “hold” rating and set a $104.00 target price on the stock. in a research report on Tuesday, October 17th. Cowen set a $97.00 price objective on Kaiser Aluminum and gave the company a “hold” rating in a report on Thursday, October 12th. Credit Suisse Group boosted their price objective on Kaiser Aluminum from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, October 20th. Morgan Stanley boosted their price objective on Kaiser Aluminum from $87.00 to $101.00 and gave the company an “equal weight” rating in a report on Thursday, November 16th. Finally, BidaskClub raised Kaiser Aluminum from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $101.29.
Shares of Kaiser Aluminum (NASDAQ KALU) opened at $106.00 on Monday. Kaiser Aluminum has a 52-week low of $74.56 and a 52-week high of $108.99. The stock has a market capitalization of $1,769.83, a PE ratio of 21.90, a PEG ratio of 1.39 and a beta of 0.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.55 and a current ratio of 3.75.
Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Wednesday, October 18th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.19). Kaiser Aluminum had a return on equity of 11.45% and a net margin of 6.18%. The business had revenue of $332.80 million for the quarter, compared to analysts’ expectations of $335.37 million. During the same period in the previous year, the firm posted $1.02 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. research analysts predict that Kaiser Aluminum will post 5.03 EPS for the current year.
In other news, CEO Jack A. Hockema sold 5,982 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $102.66, for a total transaction of $614,112.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Melinda C. Ellsworth sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $99.48, for a total value of $99,480.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,982 shares of company stock valued at $1,637,622. 3.00% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new position in shares of Kaiser Aluminum during the third quarter valued at approximately $576,000. Sterling Capital Management LLC bought a new position in shares of Kaiser Aluminum during the third quarter valued at approximately $1,156,000. California Public Employees Retirement System grew its holdings in shares of Kaiser Aluminum by 6.2% during the third quarter. California Public Employees Retirement System now owns 41,852 shares of the industrial products company’s stock valued at $4,317,000 after purchasing an additional 2,452 shares during the last quarter. Caxton Associates LP bought a new position in shares of Kaiser Aluminum during the third quarter valued at approximately $268,000. Finally, Vident Investment Advisory LLC bought a new position in shares of Kaiser Aluminum during the third quarter valued at approximately $2,751,000. 98.03% of the stock is owned by institutional investors.
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Kaiser Aluminum Company Profile
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.
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