Stifel Nicolaus Reiterates Buy Rating for Kaiser Aluminum Corp. (KALU)
Kaiser Aluminum Corp. (NASDAQ:KALU)‘s stock had its “buy” rating reiterated by equities research analysts at Stifel Nicolaus in a research note issued to investors on Friday. They currently have a $85.00 price target on the stock, up from their previous price target of $80.00. Stifel Nicolaus’ price objective indicates a potential upside of 11.90% from the company’s current price.
Kaiser Aluminum Corp. (NASDAQ:KALU) traded up 1.09% during mid-day trading on Friday, hitting $75.96. The stock had a trading volume of 628,400 shares. Kaiser Aluminum Corp. has a 1-year low of $62.60 and a 1-year high of $76.14. The stock’s 50-day moving average is $72.24 and its 200-day moving average is $70.66. The company has a market cap of $1.362 billion and a price-to-earnings ratio of 15.24.
Kaiser Aluminum Corp. (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.87 by $0.18. The company had revenue of $344.00 million for the quarter, compared to the consensus estimate of $334.89 million. During the same quarter last year, the company posted $0.91 earnings per share. Kaiser Aluminum Corp.’s revenue was up 2.7% compared to the same quarter last year. Analysts expect that Kaiser Aluminum Corp. will post $3.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Shareholders of record on Friday, July 25th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Wednesday, July 23rd.
A number of other firms have also recently commented on KALU. Analysts at Cowen and Company raised their price target on shares of Kaiser Aluminum Corp. from $76.00 to $83.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks upgraded shares of Kaiser Aluminum Corp. from a “neutral” rating to an “outperform” rating in a research note on Thursday. They now have a $75.70 price target on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Kaiser Aluminum Corp. in a research note on Thursday, July 17th. They set a “neutral” rating and a $78.00 price target on the stock. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $79.94.
Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products and operates in fabricated products segment.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.